Tata Motors To Hike Prices Of Commercial Vehicles, Shares Upbeat

Tata Motors has announced a price hike of up to 2% on its commercial vehicles starting April 1, 2024. The announcement added to the upbeat investor sentiment towards to the stock on Thursday.

What Happened: Tata Motors, a leading force in India’s commercial vehicle industry, revealed on Wednesday its plan to adjust the prices of its commercial vehicles by up to 2%, effective April 2024. This price revision is aimed at offsetting the residual impact of previous input costs, the company said in a press release. The increase will be applied uniformly across all models and variants of the company’s commercial vehicle lineup.

See Also: Tata Stock Jumps 4% To Hit New 52-Week High As Brokerage Raises Target Price

The announcement of the price hike comes on the heels of Tata Motors’ recent strategic moves, including the demerger of its businesses into two distinct listed entities, one focusing on commercial vehicles and the other on passenger vehicles. This demerger, approved by the company’s board, aims to enhance growth and agility within both sectors.

Most analysts have remained positive on the stock, with several analysts maintaining their “buy” or equivalent ratings.

Price Action: Tata Motors’ share price was up 2.14% to trade at ₹1,039.45 in the late hours of trading on Thrusday.

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