Tata Motors Becomes India’s Most Valued Carmaker, Dethrones Maruti Suzuki
Tata Motors has become India’s top carmaker company in terms of market value. This is a big change, as Maruti Suzuki has been leading for the last 7 years.
Tata Motors’ stock prices increased a lot, reaching a 52-week high of Rs 886.30 on the Bombay Stock Exchange (BSE). At the end of trading, their market value was ₹3.159 lakh crore, just above Maruti Suzuki’s ₹3.13 lakh crore.
A major reason for the success of Tata Motors is the great sales of its Jaguar Land Rover (JLR) cars. These cars, especially the Range Rover, Range Rover Sport, and Defender models, did very well and made up 62% of their sales.
Also, Tata Motors sold 1.01 lakh vehicles recently, which is 27% more than last year and their best in 11 quarters.
Tata Motors’s stock price is now over ₹896. Experts from JP Morgan, a financial company, think Tata Motors’ stock could reach Rs 925.
They believe good sales and money management at Jaguar Land Rover and strong performance in India’s car market are key reasons.
Jaguar Land Rover sold 27% more cars this quarter than last year, with good sales in the UK, China, Europe, and North America. This should help Tata Motors make more money in the coming months.
Looking ahead, Tata Motors is focusing on electric vehicles (EVs). They plan to increase EV sales by 40% in 2024. Last year, they sold 69,000 EVs.
They are also working on new electric car models and technologies. The modern and eco-friendly cars are the primary focus of the company.
Tata Motors shares have seen a 3.14% increase in value today, generating a 2.35% return. The stock is currently trading at ₹885.8, reflecting a 2.43% increase from the previous day.
Over the past 6 months, the stock has shown a remarkable return of 36.83%. Over the past 3 months, the stock has delivered a solid return of 39.57%.
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Tata Motors is set to share its financial results for the third quarter on February 2, 2024. This growth happened because Tata Motors did well with their money, pleasing investors.
Tata Motors was on top before in 2017, but then Maruti Suzuki took over until now. Now Tata Motors has regained its position as India’s most valued automaker company.
