Tata Motors Share Price Target 2024: Tax+ Interest+ Penalty! Rs 1.92 CRORE GST order - BUY, SELL or HOLD?

Authored by : ET Now Digital Updated Apr 27, 2024 | 09:54 PM IST Tata Motors Share Price Target 2024: Tax+ Interest+ Penalty! Rs 1.92 CRORE GST order? BUY, SELL or HOLD?

Tata Motors share price target 2024: Tata Motors, on Saturday said that the company has received a tax demand notice seeking 'demand on account of short payment of Tax and excess availment of credit under section 73 of the CGST/ SGST Act, 2017' from the Deputy Commissioner of State Tax, Raipur. In an exchange filing, Tata Motors said that there is no material impact on the financial and operational activities.

"The Company has received (an) order confirming demand on account of short payment of Tax and excess availment of credit under section 73 of the CGST/ SGST Act, 2017 (sic)," Tata Motors said in the exchange filing.

According to the disclosure, the details of the tax liability for Tata Motors are as follows - Tax: ₹ 1,92,83,966; Interest: ₹ 2,04,93,836 and Penalty: ₹ 19,28,396.

"There is no material impact on the Financial and operational activities of the company on account of this order. Company is reviewing the order and will exercise the right to file (an) Appeal," it further said.

Tata Motors share price target 2024

As of April 25, Kotak Institutional Equities had an ADD rating on Tata Motors. In its daily report on April 25, Kotak Institutional Equities gave Rs 950 as the 'fair value' of Tata Motors. On Friday, Tata Motors shares closed at Rs 1000 apiece.

Reliance Securities, in its April 25 report cited that Tata Motors at Rs 984 and 988 and resistance at Rs 996 and Rs 1000. IIFL Securities, in its April 26 report, when the CMP of Tata Motors was Rs 1001, said that the support and resistance for Tata Motors Stock was placed at Rs 1101 and Rs 1133 respectively.

Tata Motors Q4 FY 2024 Results

Tata Motors will declare its Q4 FY 2024 earnings results on May 10, 2024. The time of Tata Motors' quarterly earnings announcement for the quarter ending March 31, 2024, is yet to be announced.

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(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)