Tata Motors, Tata Power and Tata Chemicals stock surged 15-20 per cent each to 52-week highs, making it a good Wednesday for Tata Group and its shareholders.
Tata Motors announced plans to raise ? 7,500 crore for its electric vehicle business from private equity firm TPG.
Tata Motors has partnered with fellow Tata Group company, Tata Power to develop electric vehicle charging infrastructure
The first round of capital infusion will be completed by March 22 and the entire funds will be infused by end of 2022, Tata Motors had said on Tuesday.
Tata Motors has touched a 52-week high of ? 519 in Wednesday’s session soaring 50 per cent in the last 5 sessions. Tata Motors’ shares had surged around 30 per cent in the previous four trading sessions on the back of robust global wholesale numbers and record order book for Jaguar Land Rover.
The auto major has been a multi-bagger since its low of of ? 63.60 on March 24, 2020, at the start of the lockdown, in a rising sign of positive customer sentiment, as
According to analysts, the Tata Motors-TPG deal will transform the electric vehicle business for Tata Motors and the Indian market, making it a major player in the EV space.