Tata Motors’ shares rose over 3% following the news that the company is set to receive incentives worth Rs 142.13 crore for FY24 under the Production-Linked Incentive (PLI) scheme. The payout is expected in Q4FY25. This positive movement in Tata Motors’ stock comes amid a broader surge in auto sector shares, driven by strong December sales and PLI benefits.
Tata Motors has submitted a claim of Rs 142.13 crore for FY24 sales under the scheme, which offers incentives ranging from 13-18% for EV and hydrogen fuel cell components, and 8-13% for other Advanced Automotive Technology (AAT) components.
Tata Motors’ stock opened at ₹768.00, reaching a high of ₹794.35 and a low of ₹761.45 during the trading session. The 52-week high stands at ₹1,179.00, while the 52-week low is ₹717.70.
As of 11:44 AM, Tata Motors shares were trading 3.62% higher at Rs 792.75.
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