Do you know that TATA Group has earned more than 18000cr in the past 15 days stock rally which equals to the bid they placed fo Air India possession.
TATA Group stock Tata Motors DVR shares were locked at the 20 percent upper circuit, and Tata Motors surged nearly 20 percent in trade on the NSE.
TATA Group shares whether Tata Motors, DVR (Differential Voting Rights), Tata Power, Tata Chemicals, and Tata Investment Corporation all the stocks were rallying between 10 percent to 20 percent on the NSE on the back of heavy volumes after news came that tata motors will raise Rs 75k crore ($1 billion) for its electric vehicle business from TPG Rise Climate up to $9.1 billion valuations.
Nelco, Tata Coffee, Rallis India, Tata Communications, Trent, Tata Consumer Products, Titan Company, Tata Metaliks, Tata Steel, Timken, and Indian Hotels were up from 3 percent to 5 percent on the NSE. In comparison, the S&P BSE Sensex was up 0.54 percent at 60,612 points.
It may be noted that the Tata Motors stock was trading at its highest level since April 2018 as multiple brokerages remain optimistic about the company’s future outlook.
Brokerage firms like Morgan Stanley have upgraded Tata Motor’s rating and raised the target price to Rs 448 from Rs 298 earlier. The foreign brokerage firm said it expects the company’s Indian business to perform well.
While Tata Motors’ Jaguar Land Rover (JLR) business is witnessing a cyclical recovery, supply-side issues could delay the process, said the brokerage. However, it suggested that the company’s India business would continue to recover faster.
On the green energy front, Tata Power is making aggressive forays. Along with its subsidiaries, Tata Power has installed/managed capacity of over 13 GW of solar power capacity. The sharp bias in favor of green energy got a sudden fillip in the last one month when the coal shortage created a crisis of sorts for the thermal power sector.
Currently, its solar order book is worth Rs.9,264 crore and that is helping valuations in a big way. The price action in Tata Motors and Tata Powers clearly highlights their green shift.
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