Shares of Tata Motors, an Automobile giant in India, traded in the green and closed at Rs 546.25, gaining nearly 2 percent as compared to the previous closing levels of Rs 535.90. The scrip hit its fresh 52-week high mark today at Rs 548.80.
In the last six months, the stock has gained around 28 percent ranging from Rs 427.10 to the current levels. The company has a market capitalization of Rs 181,432 crores.
The stock movement today is witnessed after the company announced its plans of setting up a lithium-ion manufacturing facility in the state of Gujarat.
Agratas Energy Storage Solutions, one of the subsidiaries of Tata Group, signed a Memorandum of Understanding (MoU) with the Government of Gujarat pertaining to the capex plans in the state. The above-mentioned move will support the development of the Electronic Vehicle (EV) industry in the country.
The Gujarat government, in an official announcement, said that the project will have an initial investment of Rs 13,000 crores during the first phase. The initial manufacturing capacity will be of 20-gigawatt hours (GWh) which could, later on, be doubled in the second phase of expansion.
Tata Motors Limited is an Automobile manufacturing company with two broad segments such as the ‘Automotive’ segment and others. The former consists of some sub-segments such as Tata Passenger Vehicles, Tata Commercial Vehicles, Jaguar Land Rover (JLR), etc.
Other segments cover Insurance Broking and Information Technology (IT) services. The company, geographically, derives a majority of its revenue from domestic operations within India.
The latest sequential financials of Q4FY22-23 portray an operating revenue of Rs 1,05,932 crores, up from Rs 88,489 crores of revenues recorded during Q3FY22-23. Moreover, the net profits, keeping the timeframe the same, increased from Rs 2,940 crores to Rs 5,405 crores.
The latest shareholding data of the company reveal that Promoters hold a 46.39 percent stake, and Foreign Institutional Investors (FIIs) hold a 15.34 percent stake in the company.
Written by Amit Madnani
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