Tata Motors (TTM) NewsBite - TTM Rises Despite New Competition In India

Posted: Wednesday, November 11, 2009 10:07 AM EDT

Tata Motors (NYSE: TTM) opened at $13.13. So far today, the stock has hit a low of $13.05 and a high of $13.21. TTM is now trading at $13.19, up $0.48 (3.78%). Over the last 52 weeks the stock has ranged from a low of $3.05 to a high of $13.58. Nissan CEO Carlos Ghosn said yesterday that the company plans to begin selling a small car in India in 2012 that would rival TTM's Nano. However, TTM shares are rising this morning, perhaps because investors think TTM has a significant advantage in India since it is already selling the Nano. Technical indicators for the stock are neutral and S&P gives TTM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TTM the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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