This Tata Stock Made Rekha Jhunjhunwala ₹143 Cr Richer Today

Rekha Jhunjhunwala experienced a significant boost in her wealth today, as Tata Motors’ shares surged up early on Friday morning.

Shares of the auto giant surged close to 3% to hit an intraday high of ₹947.40. The stock is upbeat today as media reports suggested that the company might be looking at a potential spinoff of its battery business Agratas Energy Storage Solutions.

See Also: How To Check Vibhor Steel IPO Allotment Status

As per the report, the change would enable its battery business to raise funds and eventually go public. A potential listing could value Agratas between $5 billion to $10 billion, contingent on the growth trajectory and market sentiment.

Now coming back to the money. Jhunjhunwala holds a 1.6% stake in Tata Motors, which amounts to 53,256,000 shares. The stock’s previous close was at ₹920.55, valuing her holdings at ₹4,902.4 crore. However, with the stock hitting an all-time high of ₹947.40 today, the value of her stake rose to ₹5,045.4 crore.

Price Action: Tata Motors’ share price was up 2.51% to trade at ₹943.70 shortly after market open on Friday.

Read Next: HDFC Bank Shares Extend Gains As Brokerage Sees 50% Upside

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: EquitiesMarketsMoversTrading IdeasRekha JhunjhunwalaTata GroupTata Motors