Why Tata Motors Shares Are Upbeat Today

Tata Motors’ share price continued to make gains for the third straight session on Wednesday

What Happened: Shares of the Tata Group company are upbeat today after the carmaker said it would raise prices for its commercial vehicles. The automobile giant on Monday evening said it will increase prices of its commercial vehicles by up to 3%.

See Also: Unexpected Multibaggers: Investing In This LIC-Backed Small Cap Stock A Year Ago Would Have Doubled Your Money

The price hike will be effective from October 1. “The price increase is to offset the residual impact of the
past input costs, and will be applicable across the entire range of commercial vehicles,” the company said in a statement.

The stock has been on an impressive run this year. Since the start of the year, the stock has gone up over 60%. Last week, brokerage firm Nomura, in its latest note on the stock, had maintained its “buy” rating for the stock with a price target of ₹624.75.

Price Action: Tata Motors’ share price was up 0.48% to trade at ₹643.75 as the markets opened on Wednesday.

Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

You have successfully subscribed.

Read Next: Ads For Elon Musk’s Biography In BluSmart Cabs Grab Tech-Savvy Eyeballs, Says Entrepreneur

Posted In: MoversTrading IdeasTata GroupTata Motors