Most Valued Auto Company: Tata Motors made a new record on the stock market on Tuesday. The company's shares jumped 5 percent and reached their highest level. With this, the market cap of Tata Motors has become more than that of the country's largest automobile company Maruti Suzuki. Tata Motors stocks have jumped more than 10 percent in a month. The company has benefited from increased sales of JLR and increase in price of passenger vehicles.
The company has not yet declared quarterly results
Tata Motors has not yet announced the results of the third quarter of the current financial year. Jaguar Land Rover (JLR) sales have increased rapidly in the third quarter. Besides, the company has also increased the prices of its passenger segment vehicles from the new year. Both these decisions have increased the confidence of investors in the company. The company's shares have been going up since the beginning of January.
Combined market cap of Tata Motors and Tata Motors DVR Rs 3.16 trillion
According to BSE data, on Tuesday, the combined market cap of Tata Motors and Tata Motors DVR has reached Rs 3.16 trillion. In this, the market cap of Tata Motors has become Rs 2.87 lakh crore and the market cap of Tata Motors DVR has become Rs 29226 crore. The market cap of Maruti Suzuki during this period was Rs 3.15 lakh crore.
JLR division sold 1.01 lakh vehicles
The company's shares rose 5 percent during trading on Tuesday. Their price went up to Rs 885.95 on January 30. The company's quarterly results are due on February 2. The company has said that it is going to increase the prices of its passenger vehicles by 0.7 percent from February 1, 2024. The company's JLR division has sold 1.01 lakh vehicles in the third quarter with a growth of 27 percent on an annual basis. This figure is the highest in the last 11 quarters. Brokerage firms have also given positive rating to the company's stock.
Read this also
Get more latest business news updates