Tata Motors up 3%, inches towards 52-week high on hopes of biz recovery

The company expects demand for cars and SUVs to remain strong in the forthcoming festive season; however, the supply situation for electronic components may continue to witness challenging time

Shares of Tata Motors were up 3 per cent at Rs 342.50 on the BSE in Monday’s intra-day trade on hopes of recovery in all its three businesses, Jaguar Land Rover (JLR), commercial vehicle (CV) and passenger vehicle (PV). The stock of Tata group automobiles company had hit a 52-week high of Rs 361 on June 15, 2021. It had touched a record high of Rs 606 on February 3, 2015.

In past one month, Tata Motors has outperformed the market by gaining 16 per cent, as compared to 2 per cent rise in the S&P BSE Sensex and