Tata Motors Revs Up To Near 4-Year High On Morgan Stanley Upgrade

Shares of Tata Motors surged to their highest levels in nearly four years after Morgan Stanley Research upgraded the stock on expectations.

Bengaluru: Shares of India's Tata Motors surged to their highest levels in nearly four years on Thursday after Morgan Stanley Research upgraded the stock on expectations of encouraging annual earnings from the Jaguar Land Rover parent.

The brokerage increased its rating on Tata Motors to "overweight" from "equal-weight", which it had maintained since 2017, saying it expected the automaker's India business to post a full-year profit after eight years of losses.

Shares of Tata Motors surged as much as 14% to Rs 383 to become the top percentage gainer on India's blue-chip Nifty 50 index.

Morgan Stanley analysts also believe Tata Motors will see the highest operating and financial leverage gains among its peers, aided by its India business.