Tata Motors rallied 2.16% to Rs 1,039.60 after the car maker informed that it will increase the price of its commercial vehicles (CVs) up to 2% effective from 1 April 2024.
The vehicle manufacturer said that the price increase is to offset the residual impact of the past input costs.The filing stated, While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles.
Tata Motors, a global automaker, is a leader in cars, trucks, buses and electric vehicles. The company has a strong presence in India, UK and other international markets.
The auto major reported a consolidated net profit of Rs 7,025.11 crore in Q3 FY24, steeply higher than Rs 2,957.71 crore in Q3 FY23. Revenue from operations rose 25.07% YoY stood to Rs 1,09,799.22 crore in the quarter ended 31 December 2023.
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