Tata Motors Limited (TTM) has experienced a notable upswing in its stock value, driven by escalating investor interest and bolstered by an optimistic evaluation from brokerage firm CLSA. The company’s shares rose to ₹682.20 on the Bombay Stock Exchange (BSE) today, building upon a commendable performance earlier in the week.
This surge follows the automotive giant’s recent attainment of an annual peak at ₹687.55 on Friday, coinciding with significant developments for the broader Tata conglomerate. The eagerly awaited initial public offering (IPO) for Tata Tech garnered full subscription today, marking a historic moment for the group—its first IPO event since Tata Consultancy Services (TCS) went public in 2004.
In response to the favorable momentum, CLSA has adjusted its price target for Tata Motors, revising it upward to ₹841 from the previous ₹803, while maintaining a ‘Buy’ rating. This adjustment reflects the burgeoning investor interest and robust confidence in the company’s growth trajectory.
The day’s trading activity concluded with Tata Motors’ stock at ₹674.05, showing a modest increase of 1.02% from its opening price of ₹678.65. Throughout the trading session, the stock fluctuated between a high of ₹683.3 and a low of ₹674.75. After hours trading saw a further uptick, settling at ₹680.95 per share. The day’s trading volume recorded 296,198 shares, with the company’s market capitalization standing at ₹260,878 crore (INR100 crore = approx. USD12 million).
These financial movements occur within Tata Motors’ annual fluctuation range, which has seen extremes of ₹687 and ₹375, indicating a robust recovery and heightened investor optimism in both the automotive sector and Tata Motors’ market positioning.
