Tata Motors hits 52-week high on capex plans

The stock surged to a new 52-week high of Rs 531 - up 2.5%. However, it could not hold gains and slipped 5.5% from its high to a low of Rs 502. The stock finally ended with a 1.5% loss at Rs 510. Around 1.07 million shares changed hands at the counter today on the BSE.
_________________________________________________
(Updated at 1037 hrs)

Tata Motors has touched its 52-week high, after the firm announced its plans to raise production of Ace light truck by 15-20% by the end of March. The company currently produces 14,000-15,000 of these in a month.

The scrip is now up 1.5% to Rs 525. The stock has touched  a low of Rs 502, after opening at Rs 524 on the BSE this morning.

Around 267,400 shares have changed hands at the counter so far. Tata Motors has climbed over 8% from its week-ago close of Rs 486. The stock has jumped 21.5% from its month-ago close of Rs 431.

The company yesterday unveiled its new ‘Tata 407 Pickup’ and the new offerings from the Ace Platform — ‘Tata Super Ace’ and ‘Tata Ace EX'. The introduction of these new products are expected to increase sales of the sub-one-tonne to three-tonne segment trucks, with more payload options and greater power.