Tata Motors reported 137% rise in net profit for the quarter ended December 2023 at Rs 7025 crore (attributable to shareholders) as against a net profit of Rs 2958 crore in the year-ago quarter. Tata Motors' total revenue rose 25% to Rs 1,10,577 crore in Q3FY24 as against Rs 88,488 crore in the corresponding period of the preceding fiscal.
Shares of Tata Motors Ltd hit a record high amid negative broader market sentiment on the last trading day of 2023 today. With today's rally, Tata Motors stock has recovered 110% from its 52-week low touched early this year. Tata Motors stock fell to a low of Rs 381 on January 6, 2023. It hit a record high of Rs 802.60 today, rising 6.41% intraday against the previous close of Rs 754.20 on BSE.
The reason the stock is trading so high is that EPS from the past 12 months stands at ₹46, and investors seem to believe the company can improve on this. But it would be wrong to assume Tata Motors has somehow become immune to the vicissitudes of the auto industry.
Shares of Tata Motors Ltd hit a record high in early trade amid negative sentiment in the broader market today. With today’s rally, Tata Motors stock has recovered 981% from its Covid low in 2020. Tata Motors stock fell to a low of Rs 63.60 on March 24, 2020 after the Modi government imposed Coronavirus lockdown to prevent the spread of Covid-19 cases across the country. In the current session, Tata Motors shares gained 1.09% to a high of Rs 687.55 on BSE.