Tata Motors share rises on hike in prices of passenger vehicles

Tata Motors share rises on hike in prices of passenger vehicles

Tata Motors

live bse live

nse live Volume Todays L/H More ×

Tata Motors share price rose nearly 1 percent in the early trade on August 3 after the company increased the prices of its passenger vehicles. The hike, “on an average of 0.8 percent, depending on the variant and model”, kicks in from August 3, the company said in a release.

Tata Motors’ New Forever range will be protected from the increase for vehicles retailed on or before August 31, 2021, the company said.

At 0915 hours, Tata Motors was quoting at Rs 298.95, up Rs 2.15, or 0.72 percent on the BSE.

Catch all the market action on our live blog

The share touched a 52-week high of Rs 360.65 on June 15, 2021 and a 52-week low of Rs 103 on August 3, 2020. It is trading 17.11 percent below its 52-week high and 190.24 percent above its 52-week low.

This Rakesh Jhunjhunwala stock dips 15% in one month. Experts give ‘buy’ tag

Rakesh Jhunjhunwala portfolio is being scanned by retail stock market investors to find out which way smart money is moving. This exercise works as Rakesh Jhunjhunwala tips for them in finding the value picks. However, it seems that market experts are not much moved by recent decision of Big Bull to trim stake in Tata Motors. Despite Rakesh Jhunjhunwala trimming stake in Tata Motors, they have been maintaining buy on every dip in Tata Motors share price. In the last one month, Tata Motors share price has dipped to the tune of near 15 per cent and market experts have called it ‘good opportunity to buy’ and hold it for long term as the auto stock is expected to go up to ₹430 per stock mark in next 12 months.

Speaking on the triggers that will fuel Tata Motors share price rally; Ravi Singhal, Vice Chairman at GCL Securities said, “After the launch of CNG variant vehicles in the passenger segment by Tata Motors, Maruti Suzuki India Limited or MSIL is fast losing its market share to Tata Motors, which is expected to boost company’s numbers in upcoming quarterly results. Apart from this, India’s Scrappage Policy coming in 2022 and Chinese growth fueling Land Rover and Jaguar sales are some of the major triggers that may go on to boost sharp rise in Tata Motors share price.”

On this Rakesh Jhunjhunwala company’s stock price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, “After the sharp decline in Tata Motors share price, it’s ideal to buy around ₹275 to ₹280 levels for immediate target of ₹300. The stock is facing mild hurdle at ₹300 but once it breaks this level, we may witness sharp upside moves in this Rakesh Jhunjhunwala stock.”

Advising investors to buy this Rakesh Jhunjhunwala portfolio stock for long term; Ravi Singhal of GCL Securities said, “One can buy this counter at around ₹280 levels for the target of ₹430 in next 12 months. However, one must maintain stop loss at ₹250 while taking position in the counter.”

Rakesh Jhunjhunwala share holding in Tata Motors

Recently, the ‘Warren Buffett of India’ hit the headlines for trimming his stake in Tata Motors from 1.29 per cent to 1.14 per cent. As per Tata Motors shareholding pattern for recently ended June 2021 quarter, Rakesh Jhunjhunwala holds 3,77,50,000 Tata Motors shares, which is around 1.14 per cent of the net company shares.

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Stocks in focus: Tata Motors, PNB, Minda Industries and more

Find this comment offensive?

Choose your reason below and click on the Report button. This will alert our moderators to take action

Name

Reason for reporting:

Foul language

Slanderous

Inciting hatred against a certain community