Tata Motors up 3%, nears 52-wk high on report co may hike soon hike prices

The company would be undertaking a price increase in its PV portfolio to pass on some of the increase in input costs of materials

Shares of Tata Motors gained 3 per cent to Rs 355.50 on the BSE in the intra-day trade on Tuesday on report that the company would undertake a price increase in its passenger vehicles (PV) portfolio to pass on some of the increase in input costs of materials, such as steel and precious metals, to customers.

The quantum of the hike, however, has not yet been disclosed. The stock of the Tata Group commercial vehicles' company was trading close to its 52-week high of Rs 360.65 touched on June 15, 2021.

The passenger vehicle (PV) industry’s sequential growth