In this article, we will talk about the Tata Motors stock. Tata Motors Limited is an international automotive company, headquartered in Mumbai and part of the Tata Group. The company manufactures trucks, vans, cars, and buses. As per the report, one of the best companies Tata Motors stakes will be in focus when the Indian stock market unlocks today as its associate Tata Technologies Limited has filed an addendum for its DRHP(Draft Red Herring Prospectus). Currently, this news has been trending on the social media platforms. Here we have more information about the news and we will share it with you in this article.
Tata Motors Limited is going to be offering its shareholding in this most anticipated Tata Technologies IPO (Initial Public offering), The Indian auto major has been anticipated to benefit from its forthcoming IPO. As Tata Technologies IPO is an offer for sale in nature, its net proceeds have been expected to help the balance sheet of Tata Motors Limited. But today in the stock market’s opening, Tata Motors shares unplugged the downside and hit an intraday low of ₹612.50m each value share, clocking over 1% dip against Tuesday’s close of ₹620.45 apiece on NSE. Scroll down to the next page for more information about the news.
As per the stock market exerts, the market has been expected to respond to developments in regard to Tata Technologies IPO, and therefore Tata Motors shares will be stocks in focus during Wednesday deals. They stated after Tata Technologies Ltd filed RHP for its initial offer Tata Motors’ share cost climbed. But, there may be a buying interest we can expect in the stock and advised ‘buy on dips’ strategy in regard to Tata Motors shares. You are on the right page for more information about the news, so please read the complete article.
Tata Motors share price target
If we talk about the Tata Motors shares then after Tata Technologies filed an addendum for its DRHP, Avinash Gorakshar, Head of Research at Profitmart Securities stated, “Tata Motors Ltd Would be a direct beneficiary of Tata Technologies IPO as the auto company has been offloading its stake in the Tata Technologies that it received at ₹7.40 apiece (as mentioned in the DRHP). Tata Motors subsidiary Tata Technologies filed an addendum on Tuesday to its DRHP. A highly anticipated IPO on the Street, Tata Tech stated it will offer 9.57 crore shares in its planned offering with a face value of ₹2 for each share. Here we have shared all the information about the news. Stay tuned to us for more updates.