Before the listing of Tata Technologies IPO, Tata Motors made a record, shares reached 52 weeks high.
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Tata Motors Share Price: There has been a stormy rise in the shares of car manufacturing company Tata Motors today. A rise of 2.42 percent was seen in the company’s shares. After this, the price reached the level of Rs 714.35. Which is a high of 52 weeks. Due to this the company got more than 75 percent return to the investors. However, market experts believe that the stock of Tata Motors has increased due to the news of listing of Tata Technology. As investors are eagerly waiting for the announcement of Tata Technologies IPO allotment status, buying interest in Tata Motors shares was seen among the bulls on Dalal Street during the morning deals. This helped Tata Motors shares extend their rally and touch a new all-time high of ₹702.80 per share on the NSE. However, stock market experts still see big upside and are expecting Tata Motors share price to touch the level of ₹945 per share in the medium to long term.
Jaguar and Range Rover sales also became the reason
According to stock market experts, Tata Motors shares are rising due to various reasons – increase in sales of Jaguar and Range Rover is one of them. He said the market is expecting a strong listing of Tata Technologies IPO, which is a 100 per cent offer for sale (OFS). Since Tata Motors is selling its stake in Tata Technologies IPO, the auto major is expected to profit from this offer for sale. Therefore, growth in sales of its premium variants and better listing price of Tata Technologies IPO are expected to enable Tata Motors to deliver strong quarterly figures in the upcoming quarters, experts said.
Why are Tata Motors shares touching the sky?
On the reasons for the rise in Tata Motors shares, Saurabh Jain, Vice President (Research), SMC Global Securities, said that Tata Motors is expected to benefit from the increase in sales of Jaguar and Range Rover. Apart from this, the company has managed to improve its margins. Other reasons are the recently announced Q2 results 2023 and Tata Technologies IPO listing. The market is expecting a strong start for the shares of this Tata group company, which is expected to be listed on Friday i.e. tomorrow.
Tata Technologies IPO is in focus
On how Tata Motors is benefiting from Tata Technologies IPO, Avinash Gorakshkar, Research Head, Profitmart Securities said that Tata Technologies IPO is completely an Offer for Sale (OFS). Hence the net proceeds of the public issue are expected to boost the balance sheet of Tata Motors as an auto major. Tata Technologies is selling its stake in the IPO. Since the Tata Technologies IPO listing price is expected to be at around 80 to 85 per cent premium, the market expects heavy support for further improvement in the company’s margins and other fundamentals in the coming quarters.
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