Tata Motors today crossed its one-year high, setting a record in its share prices. Today the company can also release the results of the last quarter of FY23.
Tata Motors stock has set a new record on Friday, the last trading day of the week. Shares of Tata Motors hit their 52-week high in one year ahead of FY23 March quarter results.
The company is expected to release positive financial results for the three months ended March. Tata Motors shares opened at Rs 513.90 per share on NSE today and have gained over 1 percent so far.
Sales increased by 3 percent in the fourth quarter
Tata Motors reported a record volume growth of 3 percent in the last and fourth quarters of FY23, driven mostly by the passenger vehicles market. JLR (Jaguar Land Rover) volumes grew by 24 percent during the same time period.
Due to Corona, there was a shortage of semiconductors ie chips, which has now gone away. At the same time, Tata’s JLR has also gained good popularity among the customers.
Q4 results may be announced today
Tata Motors is likely to announce its Q4 results for FY23 today. Along with this, the company can also declare dividends. Tata Motors will pay this dividend for the first time after 2016 as the company earned a profit in the December quarter.
Why the boom?
The news of the IPO of Tata Technologies is also included in Tata shares reaching the highest level of one year. Let us tell you that only after the news of the IPO of Tata Technologies, did there has been a jump in the shares of Tata Motors. The whole point is that Tata Motors holds a 74.69 percent stake in Tata Technologies. Apart from this, the remaining holdings are 7.26 percent with Alpha TC Holding Pte and 3.63 percent with Tata Capital Growth.
Tata Motors shares have started rallying after submitting documents for IPO to SEBI. In the last few trading days, the share price of the company has crossed Rs 500, which is a gain of 25 percent.
At present, till the time of writing this news, till 11:45 am on Friday, the shares of the company are trading at Rs 513 on NSE with a gain of 1.55 percent and at Rs 512 on BSE.
