Shares of Tata Motors and Tata Motors DVR continued their upward movement, having rallied up to 28 per cent thus far on the BSE in the month of September. In comparison, the S&P BSE Auto index has gained 7.4 per cent, while the S&P BSE Sensex is up 4.6 per cent so far in the current month.
Shares of Tata Motors DVR hit an over three-year high of Rs 174.4 after they surged 8 per cent on the BSE in the intra-day trade on Monday, extending its 10 per cent gain in the past week. The stock was trading at its highest level since June 2018.
Differential Voting Rights (DVR) shares are shares that are permitted to be issued with differential voting and differential dividend rights.
Shares of Tata Motors, meanwhile, were up 5 per cent at Rs 333.30 in the intra-day trade today. The stock had hit a 52-week high of Rs 360.65 on June 15, 2021. The company on September 24 said its electric vehicles (EV) have achieved a cumulative sales milestone of 10,000 units.
"The first 10,000 EVs have been led by the early adopters and with this encouragement Tata Motors has built a viable roadmap for the future and is committed to staying on course with making EVs mainstream," Tata Motors said in a press release.
With over 70 per cent market share (YTD FY22), Tata Motors crossed the 1,000 unit volume in August’21 and with a strong order book, the company’s vision of creating a sustainable future in the automobile industry is being recognized and appreciated by all customers. CLICK HERE TO READ RELEASE
Separately, Tata Motors last week said it will increase prices of its commercial vehicle range by around 2 per cent with effect from October 1, in order to offset the impact of rising input costs.
The effective price hike, in the range of 2 per cent, will be implemented based on the model and the variant of the vehicle, the auto major said in a statement. "The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products," it stated.
"Meanwhile, Jaguar Land Rover’s (JLR) order book is strong at 110,000 units, but wholesales are unable to meet demand. April-June quarter (Q1FY22) wholesales (ex CJLR) were low at around 84,000 units, and July-September (Q2) guidance is lower at around 65,000 units. Management hopes for an improvement to 90,000 units in October-December (Q3) and a further increase in January-March (Q4), led by a pick-up in semiconductor supplies," according to analysts at Emkay Global Financial Services said in Q1 result update.
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