Shares of Tata Motors Passenger Vehicles will be in focus for robust sales in November

Shares of Tata Motors Passenger Vehicles (TMPV) are likely to attract more investor attention in Tuesday’s trading after the company reported robust sales in November. The automaker said Monday that passenger car sales rose 26% year-on-year (year-on-year) to 59,199 units, compared to 47,117 units in the same month last year.Domestic sales contributed significantly to this growth, rising 22% year-on-year to 57,436 units, compared to 47,063 units in November 2023. The steady increase underlines the improving demand across Tata Motors’ passenger car portfolio.

The company currently has a market capitalization of Rs 1,33,961 crore. Over the past year, the stock has traded between a 52-week high of Rs 507.97 and a 52-week low of Rs 335.30, reflecting broader volatility in the auto sector.

Technical outlook:

RSI (14 days): The Relative Strength Index of the share stands at 26.9, which puts it in the oversold zone (RSI below 30). An oversold RSI often indicates that selling pressure may be overextended, increasing the likelihood of a near-term technical recovery.

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Tata Motors PV is currently trading below 6 out of 8 simple moving averages (SMAs). While it remains above the shorter-term 5- and 10-day SMAs, its position below most medium- and long-term averages indicates bearish undertones, suggesting the stock has faced consistent selling pressure in recent sessions.

In a separate update, Tata Motors’ commercial vehicle segment posted a strong performance in November, with a 29% year-on-year increase in total sales to 35,539 units. This reflects improving demand in key commercial categories such as trucks, buses and light commercial vehicles.

Domestic shipments were also solid, rising 25% year-on-year to 32,753 units, underscoring healthy activity in core markets and a recovery in economic and infrastructure-related movements.

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