Ace investor Rekha Jhunjhunwala saw a significant increase in her net worth today, thanks to the impressive performance of the Tata Motors stock. The stock went up close to 4% to hit a new 52-week high of ₹665.40 on Wednesday on the back of impressive June quarter earnings.
Rekha Jhunjhunwala owns 1.57% or 52,256,000 shares of Tata Motors. So, on the previous day, when the stock closed at ₹639.45, the value of her holding was ₹3,341.50 crores. Today, after the surge to ₹665.40, her stake’s value went up to ₹3,477.11 crores.
Tata Motors Q1: The Tata Group company has impressed analysts and investors alike. Analysts noted that the company’s performance beat expectations in a seasonally weak quarter backed by the performance of its Jaguar Land Rover business. Going forward, analysts see JLR business driving further growth and profitability. Here are the latest analyst calls on the stock:
| Analyst | Price Target (₹) | Rating |
|---|---|---|
| Morgan Stanley | 711 | Overweight |
| CLSA | 780 | Buy |
| ICICI Securities | 690 | Add |
Price Action: Tata Motor’s share price was up 1.08% to trade at ₹646.35 in the late hours of trading on Wednesday.
Read Next: Tata Motors Hit Another 52-Week High After Q1: Here’s What Top Analysts Want You To Do
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.