Tata Motors beats Kia Corporation to become 16th most-valued automaker, shares extend rally for 4th straight day
Tata Motors share price: The multi-bagger stock has surged 61 per cent so far this year and gained 37 in the past three-month period.
Tata Motors share price: Tata Motors has now become the 16th most valued auto manufacturer in the world, beating the South Korean car manufacturing major Kia Corporation.
The market capitalisation of Tata Motors currently stands at Rs 2.08 lakh crore. Compared to the automakers worldwide, Tata Motors ranks 16th with a valuation of $27.37 billion, which is higher than the $27.03 billion of Kia Motors.
The share prices of Tata Motors ended on Tuesday 1.63 per cent higher at Rs 628.5 per piece on the BSE, continuing the upward move of the stock for the fourth straight day. The Tata Group stock hit a record high of Rs 634.6 per piece on the BSE in the previous session on July 10.
The multibagger stock has surged 61 per cent so far this year and gained 37 per cent in the past three-month period.
Rise in sales for Jaguar Land Rover
Tata Motors recently announced that the company’s flagship Jaguar Land Rover witnessed a significant increase in its car sales during the first quarter of the financial year 2023-24.
The flagship unit’s global wholesale dispatches made a sharp 30 percent year-on-year rise during the quarter ended on June 30, 2023, while its retail sales increased by 29 percent compared to the same period last year, during the quarter.
Retail sales for the first quarter were 101,994 units (including the Chery Jaguar Land Rover China JV), up 29 per cent compared to the same quarter a year ago, the company's statement read.
"By model, retail sales of our three most profitable models were up significantly compared to the same quarter a year ago with Range Rover up 199 per cent, Range Rover Sport up 42 per cent and Defender up 90 percent," Tata Motors stated.
Further, Tata Motors highlighted in its Annual Report 2023 that Jaguar Land Rover's (JLR) roadmap for electric vehicle (EV) transition would be driven by three platforms, namely the Electrified Modular Architecture (EMA) EV-only platform, the flexible Modular Longitudinal Architecture (MLA) platform, and the JEA for all electric Jaguars.
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