Tata Motors rallies 10% on heavy volumes; stock soars 53% from 52-week low

The stock was up 10% to Rs 198, rallied 53% from its 52-week low of Rs 129 touched on February 8, 2019, against 1% decline in the Nifty 50 index.

Shares of Tata Motors rallied 10 per cent to Rs 198 apiece on the National Stock Exchange (NSE) on the back of heavy volumes after the company denied the reports of exploring options for Jaguar Land Rover Automotive Plc (JLR) including stake sale.

"There is no truth to the rumors that Tata Motors is looking to divest its stake in JLR and we would not like to comment further on any market speculation," the company said in a regulatory filing on Friday after market hours.

According to Bloomberg report, Tata Group, India’s biggest conglomerate, is exploring strategic options