Tata Motors overtakes Maruti Suzuki in market capitalisation
Shares of Tata Motors surged 5 per cent to an all-time high ahead of its Q3 FY24 results announcement.
Source: Tata Motors
The company’s stock has gained significantly on the back of record sales in its Jaguar Land Rover volumes in Q3 and its decision to hike prices for its passenger vehicles.
Source: Tata Motors
The stock has rallied over 10 percent in the last 1 month.
Source: Tata Motors
The company's market capitalisation also surpassed that of Maruti Suzuki at Rs 3.159 lakh crore.
Source: X Photo
Tata Motors stock price hit Rs 885.95 in the bourses on January 30, 2024. The company is set to announce its Q3 results on February 2.
Source: Tata Motors
In the previous week, Tata Motors had announced it would hike the prices of its passenger vehicles by 0.7 percent from February 1, 2024.
Source: Tata Punch EV
This price hike will include its electric vehicles as well.
Source: Tata Motors
Additionally, Jaguar Land Rover division of Tata Motors sold 1.01 lakh wholesale units in the third quarter which is a 27 percent YoY increase.
Source: YouTube Screengrab
It is also the highest wholesale figure in the last 11 quarters.