Shares of Tata Motors Ltd stood as the top gainer on Thursday’s trade with extending gains of nearly 3-year high. The stocks were trading at Rs 296.85, up by 7.98 per cent or 21.95 points at 2:10 PM on NSE.
The stock is up 59.32% in last one year as compared to a 21.75 per cent gain in Nifty and a 29.54 per cent gain in the Nifty Auto index. The benchmark Nifty is up around 0.65 per cent on the day, quoting at 14740.2. The Sensex is at 50135.86, up 0.69 per cent. Tata Motors Ltd has added around 79.27 per cent in last one month.
Meanwhile, Nifty Auto index of which Tata Motors Ltd is a constituent has added around 20 per cent in last one month and is currently quoting at 10369.25, up 2.05 per cent on the day. The volume in the stock stood at 1755.13 lakh shares today, compared to the daily average of 1166.82 lakh shares in last one month.
The benchmark January futures contract for the stock is quoting at Rs 295.6, up 7.33 per cent on the day. Tata Motors Ltd is up 59.32 per cent in last one year as compared to a 21.75 per cent gain in Nifty and a 29.54 per cent gain in the Nifty Auto index.
The PE of the stock is 0 based on TTM earnings ending September 20.
The stock of the Tata Group commercial vehicles company was trading at its highest level since September 2018. The stock has managed to hold investor interest despite denying reports that it’s planning to sell its stake in the domestic passenger vehicle (PV) business. In the past seven trading days, the stock has rallied 26 per cent on a report that Tesla may choose Tata Motors for its much-awaited India foray. However, the company has denied reports on January 12 in a regulatory filing saying that it has not taken any decision regarding a strategic partner for its PV business.
Thus far in January 2021, the stock of Tata Motors has rallied 51 per cent after the company’s subsidiary Jaguar Land Rover (JLR) posted a second successive quarter-on-quarter recovery in sales, despite the continuing impact of Covid-19. In comparison, the S&P BSE Sensex gained 4.4 per cent so far in the month.