Key Points
Dipan Mehta, Director, Elixir Equities, says: This is as good a bull market as it gets and managements also recognise that this is the right time to take these kind of corporate actions and whether it is a buyback from Piramal or L&T, they certainly know that that is a good way of boosting their profits..
All these things are going to keep on coming and leading up to maybe the 2024 general elections, I do not see any threats to this bull market and we may have all these corporate actions, a very vibrant IPO market, new listings, preferential issues etc..
One of the most volatile car companies also that I would say and while it is flying just now maybe because of global macroeconomic trends or some events somewhere or the other, a 5-10% volume change in JLR makes a huge difference to Tata Motors performance..
There are too many risk factors when it comes to investing in Tata Motors and right now they have done well, maybe blue sky scenario for them but it does not take while that maybe two-three quarters down the line, again, you may feel the stock has corrected by 30-40% because of a loss situation in JLR...
What I also do not like is that they are losing market share in their primary business, the commercial vehicle business and that also is a bit of a concern and at the end of the day, you call it Tata Motors but what drives it is JLR and one does not really have a handle on what the performance of JLR could be three to five years down the line...
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