Rekha Jhunjhunwala experienced a significant increase in her wealth today, as Tata Motors’ stock reached an all-time high. Shares of the company surged up over 2% to hit an all-time high at ₹809.20.
The Tata Group stock received a positive boost after its luxury subsidiary, Jaguar Land Rover (JLR), released its sales update for the December quarter. Analysts expressed optimism, with Morgan Stanley maintaining an “overweight” rating and a ₹890 price target, citing JLR’s wholesale numbers aligning with estimates.
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JP Morgan also kept an “overweight” rating, setting a ₹925 price target, expecting strong profitability from both JLR and India businesses in the December quarter. Domestic brokerage firm Motilal Oswal reiterated a “buy” rating with a ₹900 price target.
Jhunjhunwala holds a 1.6% stake in Tata Motors, which amounts to 5.32 crore shares. The stock’s previous close was at ₹789.10, valuing her holdings at ₹4,202.43 crore. However, with the stock hitting an all-time high of ₹809.20 today, the value of her stake rose to ₹4,309.47 crore.
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