Tata Motors Limited witnessed a surge of over 1 percent, reaching a fresh 52-week high at Rs 827 on January 23, following the company’s announcement of a 0.7 percent price hike across its passenger vehicles portfolio, including electric vehicles. The price adjustment is set to come into effect from February 1.
The automobile major attributed the decision to escalating input costs but did not disclose specific revised prices for individual cars in its portfolio.
Despite the initial positive market response, Tata Motors shares experienced a slight correction later in the day, trading nearly 2 percent lower at ₹802.85 as of 1:54 am. The market dynamics reflect the mixed sentiment among investors in response to the upcoming price adjustments on the company’s passenger vehicles.
