MUMBAI – Shares of Tata Motors (NS:) (NYSE:) hit a record high in early trade on Friday, showcasing the automaker’s significant recovery from its March 2020 Covid low and its strong performance over the past year. The stock opened at Rs 684 and reached Rs 687.55 on the Bombay Stock Exchange (BSE), marking a substantial rise from its 52-week low of Rs 375.50 in December 2022.
The trading session saw about 3.11 lakh shares change hands, resulting in a turnover of Rs 21.29 crore, which propelled the company’s market capitalization to Rs 2.26 lakh crore. The stock’s one-year beta stood at 0.1, indicating lower volatility compared to the market, while the Relative Strength Index (RSI) was at 69.2, suggesting strong buying interest.
Over the past year, Tata Motors’ shares have surged by approximately 62%, with an impressive gain of around 73.70% for the year to date. This rally is attributed to the company’s robust domestic performance, its leading position in the electric vehicle (EV) sector, and improved profitability at its Jaguar Land Rover (JLR) division.
YES Securities has set a target price of Rs 773 for Tata Motors’ stock, signaling confidence in its future growth prospects. Other analysts have also expressed a bullish outlook on the stock, with predictions of a near-term target of Rs 720, reflecting optimism about the company’s strategy and market position.
On Thursday, before reaching today’s peak, Tata Motors’ stock closed at ₹671.65 after rising by 1.26% from its opening price of ₹674.4. The day’s high was ₹685.25, while the low was ₹670.6 with a BSE volume of 1,421,345 shares.
Meanwhile, Tata Motors DVR stock also showed positive momentum on Thursday, closing at ₹458.6 per share after an increase of 1.46% from its opening price of ₹460.45. It hit a daily high and low of ₹466.9 and ₹458.6 respectively and is now trading at ₹465.3 per share. The market cap for Tata Motors DVR was reported at ₹178261.11 cr with a BSE volume of 44,440 shares.
Investors are keeping a close eye on Tata Motors given these developments and are encouraged to stay informed on news that could impact stock performance. For those looking to track these updates closely, an app is available offering 14 days of free access to Mint Premium for comprehensive coverage and analysis.
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