This Tata Stock Made Rekha Jhunjhunwala ₹417 Cr Richer Today

Rekha Jhunjhunwala experienced a significant increase in her wealth today, as Tata Motors‘ stock reached a new all-time high.

Tata Motors’ share price surged up close to 8% to hit a new, all-time of ₹1,065.60 on Tuesday. Shares of the company are rocketing today as it announced the plans to demerge its businesses into two separate listed entities: one dedicated to commercial vehicles and the other to passenger vehicles.

See Also: Midcap Stock Hits All-Time High After Bagging Order From Saudi Aramco

Most brokerages were upbeat about the company’s decision. Here’s a look at how top analysts reacted to the announcement:

Analyst FirmRatingTarget Price
Morgan StanleyOverweight₹1,013
JP MorganOverweight₹1,000
Motilal OswalNeutral₹1,000

Jhunjhunwala holds a 1.6% stake in Tata Motors, which amounts to 5.32 crore shares. The stock’s previous close was at ₹987.20, valuing her holdings at ₹5,257.43 crore. However, with the stock hitting an all-time high of ₹1065.60 today, the value of her stake rose to ₹5,674.95 crore.

Price Action: Tata Motors' share price was up 4.66% to trade at ₹1,033.25 on Tuesday.

Read Next: How To Check Mukka Proteins IPO Allotment Status

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: EquitiesMarketsRekha JhunjhunwalaTata GroupTata Motors