Tata Group Stock Falls For Fifth Straight Session, Down 3% In 1-Week

Shares of large cap Tata Group stock from auto sector, Tata Motors Ltd witnessed a decline of 0.54% intraday on BSE. Tata Motors stock declined 2.97% in last 1-week after Reuters reported that Indian government is working on a new EV policy that would cut import taxes for automakers that commit to some local manufacturing. But, Union Finance Minister Nirmala Sitharaman ruled out any such proposal.

Earlier, a demand has been raised from Tesla and its CEO Elon Musk as he plans to make a debut into the Indian markets.
The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15%, compared to the current 100 percent that applies to cars which cost above $40,000 and 70% for the rest, as per the Reuters report quoting two sources, including a senior government official.

Tata Motors Stock Performance & Return: Last trading price of Tata Motors share is Rs 602.20 apiece. Tata Motors shares declined for fifth straight session today. Its 52-week high price is Rs 665.30 per share and 52-week low price is Rs 375.50 apiece, respectively. Earlier on Friday (August 25) Tata Motors stock fell 2.9%. The company has a market capitalisation of Rs 2,00,042.52 crore. Tata Motors shares fell a little over 5% in last 1-month. Tata Motors shares gained 43% in last 6-months, soared 52% YTD, offered 30% return in last 1-year, and rallied 110% in last 2-years. In last 3-years, Tata Motors shares witnessed a surge of 322%.

Tata Motors Financials: The company for the quarter ended June 30, 2023 announced a decline of 3.64% in its consolidated total income at Rs 103,596.62 crore as against its last quarter total income of Rs 107,509.28 crore. The company announced its net profit after tax at Rs 3089.70 crore in its latest quarter.

Tata Motors About: Tata Motors Limited, a USD 35 billion organisation, is a leading automobile manufacturer with a portfolio that includes a wide range of cars, utility vehicles, trucks, buses and defence vehicles. Our marque can be found on and off-road in over 125 countries around the globe. Part of the USD128 billion Tata group founded by Jamsetji Tata in 1868, Tata Motors is among the world's leading manufacturers of automobiles, according to its official website.