New Delhi: CNI Research, CMD, Kishore Ostwal has said that Tata Motors stock is all set to become a multibagger in the future. Tata Motors share price has rallied 70 per cent in last one year. But even from current levels, Ostwal sees the stock as a multibagger. Backing the auto stock, the expert stated that the home grown automobile manufacturing company is working on a ground breaking technology which could help increase its profitability multifold. On Tuesday, July 02, 2024, Tata Motors share price traded at Rs 990 apiece on the Bombay Stock Exchange (BSE) at the time of writing this article.
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What is Tata Motors’ ground breaking technology?
Ostwal said Tata Motors is working on a project upon success of which automobile parts will be manufactured by a material called starch which is commonly found in food items like potatoes, rice, etc. In this technology, starch is processed into another material, which can be then used to manufacture automobile parts. He added, “A team of researchers and engineering from Tata Motors are now using starch, a cooking material to create a new material that can be used to build car body part.” He added, “Moreover, the material developed is non toxic and nonflammable too.”
According to Ostwal, if the company hits success, this technology will help it to mint more money because the return would be quite profitable. The cost of manufacturing automobiles through starch is low and it would help Tata Motors increase its profitability mutifold.
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Ostwal also said that the Government of India’s latest projects in India’s food processing industry will also boost the starch market. The GoI is looking to strengthen India’s food processing industry. “Ministry of Food Processing industries’ flagship Pradhan Mantri Kisan Sampada Yojana has announced on elevating modern food processions infra, ensuring an efficient supply chain from farm to retail- Positive for starch market,” he said. Tata Motors will get a favourable ecosystem to work on this project and this increases its chances to hit success.
Tata Motors Share Price History
Tata Motors share price has gone up five per cent in the past one month.
The scrip has zoomed 26 per cent in the past six months.
Tata Motors share price skyrocketed 519 per cent in the past five years.
Tata Motors share price target: CNI Research, CMD, Kishore Ostwal has said that Tata Motors is working on ground breaking technology which could help increase its profitability multifold. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
