May 19, 2024

The corporate is ready to announce its Q3 outcomes on February 2.

Shares of Tata Motors surged 5 % to an all-time excessive forward of its Q3FY24 outcomes announcement. The corporate’s inventory has gained considerably on the again of file gross sales in its Jaguar Land Rover (JLR) volumes in Q3 and its resolution to hike costs for its passenger autos. The inventory has rallied over 10 % within the final 1 month.

The corporate’s market capitalisation additionally surpassed that of Maruti Suzuki at Rs 3.159 lakh crore.

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Tata Motors inventory value hit Rs 885.95 within the bourses on January 30, 2024.
The corporate is ready to announce its Q3 outcomes on February 2.

A number of elements have triggered the current rally within the inventory. Within the earlier week, Tata Motors had introduced it will hike the costs of its passenger autos by 0.7 % from February 1, 2024. This value hike will embrace its electrical autos as nicely.

Moreover, Jaguar Land Rover division of Tata Motors offered 1.01 lakh wholesale models within the third quarter which is a 27 % YoY improve. It is usually the best wholesale determine within the final 11 quarters.

Brokerages like Morgan Stanley and Motilal Oswal had given optimistic rankings to the inventory citing the sturdy gross sales combine with Vary Rover, Ranger Rover Sport and Defender accounting for 62 % of the wholesale.

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