Tata Motors share price has witnessed a remarkable surge, soaring by more than 5.5% in the last five trading sessions and boasting an impressive growth of over 72% since the commencement of 2023. The company’s stock performance reflects a strong upward trend, drawing attention to the robust factors contributing to this substantial increase.
Experiencing a robust rally, Tata Motors shares soared to an unprecedented Rs 685.50 on the NSE, marking a 2.1% increase. As of 1:35 pm, the stock continued its ascent, trading 1.46% higher at Rs 681.35. This surge follows Tata Motors’ recent inclusion in the MSCI Index, a move anticipated to bring in substantial inflows, estimated at $184 million by analysts at Nuvama Alternative and Quantitative Research. Notably, the stock has seen a remarkable 5.5% uptick in the last five trading sessions and an impressive 72% surge since the onset of 2023.
Tata Motors shares received a significant boost following the announcement of Tata Technologies’ upcoming IPO price band, set at Rs 475 to Rs 500 per equity share. The IPO, scheduled to open for subscription on November 22, involves an offer-for-sale (OFS) of up to 60,850,278 equity shares, aiming to raise Rs 3,042.51 crore.
Remarkably, this offering is exclusively through OFS by the promoter and investors, with no provision for a fresh issue component. The strategic move is anticipated to further elevate Tata Motors’ market position, creating a positive impact on its overall share performance.
Source:https://www.indiatoday.in/business
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