Tata Group Shares Touch 52-Week High Post Tata Motors-TPG Deal
NDTV
Tata Motors has announced plans to raise Rs 7,500 crore for its electric vehicle business from private equity firm TPG
Tata group company shares are in the limelight on Wednesday afternoon, with Tata Motors, Tata Power and Tata Chemicals surging 15-20 per cent each to 52-week highs, after Tata Motors announced plans to raise Rs 7,500 crore for its electric vehicle business from private equity firm TPG. The first round of capital infusion will be completed by March 22 and the entire funds will be infused by end of 2022, Tata Motors had said on Tuesday.
Tata Motors has touched a 52-week high of Rs 519 in today's session and with today's rally, Tata Motors shares have soared around 50 per cent in a matter of 5 sessions. Tata Motors' shares had surged around 30 per cent in the previous four trading sessions on the back of robust global wholesale numbers and record order book for Jaguar land Rover.
Wholesales of all passenger vehicles in the second quarter of current fiscal jumped 11 per cent annually to 1,62,634 units and Jaguar Land Rover clocked global wholesales of 78,251 vehicles, including CJLR volumes of 14,219 units.
The auto major has been a multi-bagger on the bourses, with its shares jumping around eight times from the lockdown lows of Rs 63.60 on March 24, 2020.
