May 24, 2024

Tata Motors is at the moment the biggest EV participant by market share.

Shares of Tata Motors prolonged their uptrend to the fifth straight session and rose 1.5 % to hit a recent lifetime excessive of Rs 804 on January 2. This was after the carmaker reported a 5 % on-year rise in whole gross sales in December.

Complete gross sales in December got here at 77,855 models, up from 74,356 offered a 12 months again and likewise larger than CNBC-TV18 estimate of 75,233 models.

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Whereas gross sales of business autos have been up 1 % on-year to 34,180 models, these of passenger autos jumped 8 % to 43,675 models within the months.

For the October-December quarter, whole home gross sales have been up 3 % year-on-year. “The year-on-year progress pattern witnessed throughout previous quarters paused in Q3 FY24 on account of the upper base impact, influence of elections held throughout 5 states, and the post-festive season slowdown in rural consumption,” Girish Wagh, govt director of Tata Motors said in an trade submitting.

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Nevertheless, Wagh remained optimistic of the pattern forward as he expects demand to enhance in This fall FY24 throughout most segments of the CV business because of the authorities’s persevering with thrust on infrastructure improvement, the promising progress outlook of the financial system together with the corporate’s demand-pull initiatives.

At 9.30am, shares of Tata Motors have been buying and selling almost 1 % larger at Rs 795.50 on the NSE. Shares of the automaker have surged almost 13 % previously month, scaling higher all-time highs within the current periods of the again of its robust progress prospects.

Tata Motors was additionally the one Nifty 50 inventory that noticed its worth double in 2023 because it ended the 12 months close to its all-time highs. The scrip additionally makes it to the highest picks amongst auto shares for many brokerages on the again of a sturdy outlook for its JLR enterprise, a robust prospects for its electrical autos, and demand for SUVs amid an increase in disposable incomes.

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Additionally Learn | Driving out in type: Tata Motors turns into first Nifty inventory to double in 2023

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