Explained: Why Tata Motors shares jumped more than 10% today
Shares of Tata Motors jumped sharply during Thursday’s intra-day market session as analysts remain upbeat about the company’s future business and growth outlook.
Tata Motors stock rallied over 10 per cent on the Bombay Stock Exchange (BSE) on Thursday and hit a three-year high of Rs 369.60. On the National Stock Exchange (NSE), it was trading at Rs 373.35 at 1.30 pm, up over 11 per cent.
The Tata Group stock, which is a key part of ace investor Rakesh Jhunjhunwala’s portfolio, opened on a positive note and surged during the afternoon session.
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WHY TATA MOTORS STOCK SURGED?
It may be noted that the Tata Motors stock was trading at its highest level since April 2018 as multiple brokerages remain optimistic about the company’s future outlook.
Brokerage firm Morgan Stanley has upgraded Tata Motor’s rating and raised the target price to Rs 448 from Rs 298 earlier. The…
