Tata Motors, Ashok Leyland Shares Surge on Positive Brokerage Notes: Buy, Sell, or Hold?
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Moneycontrol•22-01-2026, 13:59
Tata Motors, Ashok Leyland Shares Surge on Positive Brokerage Notes: Buy, Sell, or Hold?
- •Shares of Tata Motors (CV business) and Ashok Leyland jumped up to 5% on January 22 due to positive brokerage notes.
- •Nomura maintained a 'Buy' call on Ashok Leyland, raising its target price to Rs 216, implying over 19% upside.
- •Nomura also kept a 'Buy' call on Tata Motors CV, increasing its target price to Rs 552, suggesting nearly 27% upside.
- •Brokerages anticipate a strong CV upcycle driven by sectors like cement, steel, e-commerce, and autos.
- •Ashok Leyland is seen as a pure-play beneficiary of the M&HCV upcycle, while Tata Motors CV benefits from its dominant market position.
Why It Matters: Positive brokerage notes from Nomura and Citi fueled a surge in Tata Motors and Ashok Leyland shares.
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