This Tata Stock Made Rekha Jhunjhunwala ₹74 Cr Richer Today

Rekha Jhunjhunwala‘s net worth got a bump up today thanks to Tata Motors’ stock reaching a new 52-week high.

Tata Motor’s share price surged up over 2% to hit a new 52-week high of ₹685.50 in the early hours of trading on Thursday. The shares of the automobile giant are upbeat today as its subsidiary Tata Technologies’ IPO is finally here. The IPO will see Tata Motors offload around 4.6 crore shares worth ₹2,300 crore.

Jhunjhunwala holds a 1.6% stake in Tata Motors, which amounts to 53,256,000 shares. The stock’s previous close was at ₹671.55, valuing her holdings at ₹3,576.4 crore. However, with the stock hitting a 52-week high of ₹685.50 today, the value of her stake rose to ₹3,650.69 crore.

See Also: Why Analysts Are Upbeat About Bajaj Finance Despite RBI’s Ban On Two Lending Products

Earlier this month, the Tata Group company posted its earnings for the September quarter. The company’s consolidated net profit was at ₹3,764 crore. Tata Motors’ revenue from operations witnessed substantial growth, reaching ₹1.05 lakh crore — a 32% increase from the ₹79,611 crore reported in the year-ago period.

Price Action: Tata Motors’ share price was up 2% to trade at ₹684.95 on Thursday afternoon.

Read Next: Tata Technologies Share Price: Should You Buy Its IPO?

Market News and Data brought to you by Benzinga APIs

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.

Posted In: EquitiesNewsEducationIPOsMarketsGeneralRekha JhunjhunwalaTata GroupTata MotorsTata Technologies