Analysts remain bullish on Tata Motors as company drives in Tiago EV

Analysts at Nomura expect the Tiago EV to sell 3,000 - 5,000 units per month, and its overall EV sales to touch 60,000/ 96,000 in FY23/24

Tata Motors stock jumped over 3 per cent in intra-day deals on Thursday, a day after the company launched the electric vehicle (EV) variant of its popular hatchback, Tiago. Most analysts have maintained their bullish stance on the counter, with those at Jefferies expecting the stock to hit Rs 650 levels in their best-case scenario – up nearly 60 per cent from the current levels.

Tata Motors is offering the EV with two different battery packs. The smaller 19.2 kWh battery pack variants are offered with a 3.3 kW AC charger (range: 250km), while the variants with the