Shares of Tata Motors have sustained their winning streak for the fifth consecutive session, with the stock soaring over 10 percent and reaching a new pinnacle of Rs 896.50 on January 31.
The noteworthy surge in Tata Motors’ stock can be attributed to the robust sales performance in its luxury segment, Jaguar Land Rover (JLR), during Q3. Additionally, the company’s announcement of a forthcoming price hike for its passenger vehicles has instilled optimism about a robust Q3 financial performance. Investors eagerly await the release of the Q3 earnings on February 2.
As of 10:00 am, Tata Motors’ shares were trading 1.9 percent higher at ₹875.25 on the NSE.
This remarkable rally has not only propelled Tata Motors’ market capitalization to Rs 295,534 crore but has also positioned it as the most valuable automobile company in India, surpassing rival Maruti Suzuki. Moreover, Tata Motors stands out as the sole participant in the Nifty 50 index that doubled its value in the year 2023, underscoring its exceptional performance in the market.
