Tata Motors shares touch fresh 52-week high; stock surges 37% in 2023 so far
Tata Group signed an outline deal on Friday on building a lithium-ion cell factory, based on an investment of about Rs 13,000 crore ($1.58 billion), as part of the nations efforts to create its own electric vehicle supply chain.
Tata Motors' share price touched a fresh 52-week high of Rs 542.45 apiece after gaining more than 1 per cent on the BSE during Monday’s session. The auto company's stock has gained around 37 per cent so far in 2023 on the back of multiple positive triggers and a better outlook.
Tata Motors shares were in demand during today’s trading session mainly on the news that Tata Group signed a $1.6 billion (Rs 13,000 crore) electric vehicle (EV) battery plant deal and management’s commentary on the good growth outlook in passenger vehicles as well as healthy May auto sales figures.
According to a Reuters report, Tata Group signed an outline deal on Friday on building a lithium-ion cell factory, based on an investment of about Rs 13,000 crore ($1.58 billion), as part of the nation's efforts to create its own electric vehicle supply chain.
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