Rekha Jhunjhunwala experienced a significant boost in her net worth today, thanks to the commendable performance of the Tata Motors stock. Tata Motor’s share price surged up close to 2% on Friday to hit an intraday high of 636.50.
Jhunjhunwala owns 1.6% or 5.22 crore shares of Tata Motors. On the previous day, when the stock closed at ₹624.60, the value of her holding was around ₹3,264 crore. Today, with the stock’s high at ₹636.50, her stake’s value surged to around ₹3,326 crore. An increase of around ₹62 crore.
Tata Group’s company shares are on an upswing as the brokerage firm Nomura has reaffirmed its “buy” rating for the stock, setting a price target of ₹786. This target suggests a potential upside of approximately 25% from the stock’s recent closing price of ₹624.75.
In addition to this, the automobile behemoth is reportedly making preparations to establish a dedicated sales network for its electric passenger vehicles (EVs) by the end of March.
Price Action: Tata Motor’s share price was up 1.06% to trade at ₹635.05 in early trade on Friday.
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