Tata Motors hits new high; up 2% after setting price band for Tata Tech IPO

Analysts have a positive view on Tata Motors primarily tracking guidance of record profitability and cash flow generation at JLR for FY24E, strong intent to become net debt free (auto) by FY25E.

Shares of Tata Motors hit a new high of Rs 683.95, up nearly 2 per cent on the BSE in Thursday’s intra-day trade after its subsidiary Tata Technologies set the price band of Rs 4750 - 500 per share for its upcoming initial public offer. The stock of automobile company surpassed its previous high of Rs 677.90 touched on October 16, 2023.

At the upper end of the price band, the size of the Tata Technologies' IPO will stand at Rs 3,042.5 crore, while the company will be valued at Rs 20,283 crore. The minimum lot size for an