Tata Motors' stock up nearly 3% after unveiling of two new models

They plan to start selling in the second half of the year

Shares of Tata Motors today gained nearly 3% after the auto major unveiled two new models which it plans to start selling in the second half of the year.

 

Tata Motors' scrip ended the day 2.76% higher at Rs 345.90 on the BSE. In intra-day trade, the stock had gained 3% to Rs 346.90.

At the NSE, the scrip rose 2.88% to settle at Rs 346.10.

 

On the volume front, 10.28 lakh shares of the company changed hands on the BSE, while over one crore shares were traded at the NSE during the day.

The cars -- Zest, a compact sedan, and Bolt, a hatchback -- will be powered by the company's new Revotron engine series.

 

These two new products are based on the company's enhanced X1 platform, on which the existing Vista and Manza models are built.

 

Both the new cars have been a result of collaborative design inputs from the three Tata Motors design studios in Pune, Coventry (UK) and Turin (Italy), the company said.