Tata Motor Share Price Read Complete Detail
The rally in the Tata Motors stock comes ahead of the listing of its arm Tata Technologies Ltd on the bourses. Last heard, shares of Tata Technologies were trading at a premium of ₹420 in the grey market, suggesting a likely listing at ₹920 over its issue price of ₹500.
Tata Motor Share Price Read Complete Detail
Shares of Tata Motors Limited crossed the ₹700 mark for the first time ever in Wednesday’s session. The stock gained over 2% to hit a record high of ₹714.40 during the afternoon trade. The rally in the auto stock comes ahead of the listing of its arm Tata Technologies Ltd on the bourses.
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Tata Motor Share Price Read Complete Detail
NSE
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Hero Motocorp | 3,840.05 | ₹93.15 | 2.49 |
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UltraTechCement | 8,871.35 | ₹138.60 | 1.59 |
Divis Labs | 3,775.55 | ₹45.80 | 1.23 |
Eicher Motors | 3,856.25 | ₹44.00 | 1.15 |
Tata Technologies, the first Tata Group IPO in nearly two decades, is set to make its debut on the Dalal Street on Thursday (November 30). Last heard, the stock was commanding a grey market premium (GMP) of ₹420, suggesting a likely listing at ₹920 over its issue price of ₹500.
Tata Motor Share Price Read Complete Detail
The grey market is an unofficial platform where shares get traded well before the allotment in the IPO and till the listing day. Investors usually track the grey market to get an idea of the listing price.
Analysts expect Tata Technologies to see a strong listing gain of over 75% given the overwhelming subscription demand and investor-friendly pricing.
“There is a high possibility that Tata Technologies can be a doubler-candidate post listing. We believe the super listing premium is justified mainly on the back of Tata parentage tag that enjoys first preference among investors community and its unique well established global business model which has been generating healthy margins in the sector it serves. Given the growth potential in outsourcing, the business model would be in great demand going forward,” said Prashanth Tapse, Senior VP Research at Mehta Equities.
“Tata Technologies being one of the member companies of the well-known Tata Group and having a robust business model is all set to get listed on November 30, 2023. Having fetched a subscription of over 69 times, the shares of Tata Technologies are expected to list at around 80% premium over the issue price of ₹500 per share,” said Prathamesh Masdekar, research analyst at StoxBox.
Tata Motors shares were also in focus ahead of the November auto sales data. According to brokerage Nomura India, Tata Motors’ passenger vehicle sales for the month will likely come in at 44,000, down 4% year-on-year.
“Tata Nexon’s facelift in particular has received a strong response, as per our dealer survey. It became the no.1 SUV across all segments in Sep-23 and Oct-23 as expected by us and may retain the position in November also,” it stated.
Tata Motors
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