Updated January 30th, 2024 at 19:13 IST
Tata Motors outshines Maruti Suzuki to become India's top automaker
The combined market capitalisation of Tata Motors and its DVR ended at Rs 3.16 lakh crore
Market Cap: Tata Motors, the automotive arm of Tata Group, has become India's most valuable automotive producer in terms of market capitalisation, combining the market capitalisation of the parent, as well as its DVR shares.
The combined market capitalisation of Tata Motors and its DVR ended at Rs 3.16 lakh crore, as against Maruti Suzuki's Rs 3.13 lakh crore, according to BSE.
Shares of Tata Motors have surged over 35 per cent during the last three months, hitting a fresh record high on Tuesday, while Maruti's shares declined 4 per cent over the same period, according to media reports.
The Mumbai-headquartered company's current market capitalisation tally's upto Rs 3.16 lakh crore, as per BSE.
Presently, Tata Motors is gearing up to introduce four mass-market electric vehicle (EVs) by late next year.
The Curvv EV is set to launch in the upcoming months, followed by the Harrier EV later in 2024. The Sierra EV and Altroz EV are slated for a release next year.
On the EV lineup front, Shailesh Chandra, MD for Tata Passenger Electric Mobility, said all awaiting passenger EVs launches will feature this advanced Acti.EV architecture, which is a part of Punch EV, citing media reports.
Notably, the sales of small vehicles from Maruti Suzuki such as the Alto and Baleno, have declined by 29 per cent, according to the company. This fall is due to Maruti's decision to moderate wholesales, as per media reports.
Meanwhile, Tata Motors posted a 8 per cent growth in domestic passenger vehicles (PV) sales, but the company has not disclosed growth rates in other vehicle segments.
Published January 30th, 2024 at 18:35 IST