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.
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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.
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