Shares of Tata Motors Ltd were in focus on Thursday, a day after the company unveiled its new electric vehicle concept, the CURVV. The EV belongs to the SUV segment and will be released as an EV first before being followed up by petrol and diesel models.
At 9:20, shares of the company were trading at Rs 454.65, down 0.33 percent, or lower by 1.50 points on the BSE. The shares touched a high of Rs 459 and a low of Rs 454.45 during the opening trade.
“With a robust SUV DNA at its core and a plethora of new-age materials, features and interfaces, we are confident that this Coupe Concept will redefine mainstream SUV design. With the concept CURVV, we now enter the Generation 2 EV architecture which will further enhance the adoption of EVs in India by overcoming the current barriers,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
He further said that our focus here has been to enable customers with a product option that is the perfect amalgamation of modern functionality and design.
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Morgan Stanley has an "overweight" rating on Tata Motors stock. The brokerage said the company unveiled its second-generation Electric Vehicle architecture which supports a higher range and is likely to strengthen its offering. Morgan Stanley sees good profitability for Tata Motors in maintaining a higher share in electric vehicles as compared to the internal combustion engines.
CLSA, meanwhile, maintained a "sell" call on Tata Motors with a target price of Rs 392. "The mid-size electric SUV concept launched by the company will be based on a new EV platform, with 10 new models being developed. The new EV will likely be positioned above the Nexon EV," CLSA said.
The brokerage also noted that Tata Motors leads the electric vehicle segment in the passenger vehicle space due to a lack of competition.
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