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.
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Most brokerages were upbeat about the company’s decision. Here’s a look at how top analysts reacted to the announcement:
| Analyst Firm | Rating | Target Price |
|---|---|---|
| Morgan Stanley | Overweight | ₹1,013 |
| JP Morgan | Overweight | ₹1,000 |
| Nomura | Buy | ₹1,057 |
| Macquarie | Outperform | ₹1,028 |
| Motilal Oswal | Neutral | ₹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.
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