Tata Motors the perfect performer on the Nifty in 2023
Shares of Tata Motors Restricted traded over a % larger at Rs 827 to hit a contemporary 52-week excessive on January 23 after the corporate introduced that it’s going to elevate the costs by 0.7 % throughout its passenger autos portfolio, together with electrical autos, with impact from February 1.
The auto main stated the principle purpose behind the hike is escalating enter prices. Regardless of the announcement, particular revised costs for every automotive haven’t been disclosed by the corporate.
At 9:26am, the inventory was buying and selling at Rs 825, up 0.7 % from the earlier shut on the NSE. Within the final yr, the counter has had a stellar rally, gaining over 100% on the bourses. It was additionally the perfect performer on the Nifty in 2023.
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The hike isn’t simply restricted to inside combustion engine (ICE) autos, but additionally EVs the place Tata Motors is the market chief. This comes after the corporate launched the brand new Tata Punch EV, its latest addition to the electrical SUV phase. Earlier than its launch, Tata had Nexon EV, Tigor EV, and Tiago EV.
The event beneficial properties significance as Tata Motors isn’t the primary firm to hike costs in 2024. Final week, Maruti Suzuki introduced a 0.45 % worth improve for its fashions. The corporate’s various vary of autos, from the entry-level hatchback Alto to the sports activities utility car Jimny and the multi-utility car Invicto.
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