This Tata Group stock gained 4.5 percent after the company announced strong Q2FY24 results. In addition, the company partnered with its subsidiaries to develop the premium pure Electric Vehicle(EV) ‘Avinya’.
Tata Motors Limited is a large-cap company with a Market capitalization of Rs 2,11,583 crores. On Friday, the company shares were trading at Rs 650.35. a share, up 2.13 percent from the previous close price.
According to the exchange filing, Tata Motors Ltd subsidiaries, Tata Passenger Electric Mobility Ltd (TPEM) and Jaguar Land Rover Plc (JLR) have entered into a memorandum of association (MoU) for licensing of JLR’s Electrified Modular Architecture platform to develop premium pure electric vehicle series ‘Avinya’.
JLR’s Electrified Modular Architecture (EAM) platform is to be launched from 2025 onwards in international markets. JlR’s platforms help TPEMs to accelerate their entry into the high-end EV segment will reduce cycle time and cost, Further Tata Passenger Electric Mobility Ltd will adopt ultra-fast technology for high-performance vehicles.
The Company’s revenue rose by 32.46 percent year on year from Rs 78,846.92 crores Q2FY23 to Rs 1,04,443 crores Q2FY24, During the same time frame, net profit has increased from a loss of Rs 1,004.07 crores to a profit of Rs 3,783.04 crores
The Company’s revenue rose 2.87 percent quarter on quarter from Rs 1,01,528 in Q1FY24 to Rs 1,04,443.06 in Q2FY24, During the same time, net profit increased 22.4 percent from Rs 3,089.70 to Rs 3,783,04 crores.
Ace investor Rekha Rakesh Jhunjhunwala holds 53,25,600 shares, i.e. equivalent to 1.60 percent of the company as of September quarter 2023.
As per the recent shareholding pattern, The Promoters of the Company own 46.38 percent of the stake, while foreign institutional investors hold an 18.4 percent stake and Retail investors hold 17.7 percent of the stake.
Tata Motor Ltd provides the global market with an extensive and varied range of automobiles, trucks, buses, sport utility vehicles, and defence vehicles.
Written by :- Abhishek Singh
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