Tata Motors Signs Deal For Lithium-Ion Cell Factory, Stocks Hit 52-Week High!

5 June 2023
2 mins read
The auto company's stock has gained around 37% so far in 2023 on the back of multiple positive triggers and a better outlook.
Tata Motors Signs Deal For Lithium-Ion Cell Factory, Stocks Hit 52-Week High!

On Friday Tata Motors Ltd signed an outline deal on building a lithium-ion cell factory, based on an investment of about Rs 13,000 crore (USD 1.58 billion), as part of the nation’s efforts to create its own electric vehicle supply chain. 

Shares of Tata Motors touched a fresh 52-week high of Rs 542.45 apiece after gaining more than 1% on the BSE during Monday’s session. The auto company’s stock has gained around 37% so far in 2023 on the back of multiple positive triggers and a better outlook. 

On June 1, 2023, the company reported a 1.62% decline in total sales at 74,973 units in May as compared to the same month last year. The company had posted a total sale of 76,210 units in May 2022. Sales of passenger electric vehicles, including international business, were at 5,805 units as against 3,505 units in the same month a year ago, a growth of 66%. 

Tata Motors Ltd is engaged in the manufacturing of cars, utility vehicles, pick-ups, trucks, and buses. Also, the company is India’s largest and the only OEM offering an extensive range of integrated, smart, and e-mobility solutions. It has operations in various countries through a strong global network of its subsidiaries. 

The company is among the world’s leading manufacturers of automobiles. The company is ‘Connecting aspirations’, by offering innovative mobility solutions that are in line with customer’s aspirations. The company is India’s largest automobile manufacturer, and it continues to take the lead in shaping the Indian commercial vehicle landscape, with the introduction of leading-edge powertrains and electric solutions packaged for power performance and user comfort at the lowest life-cycle costs. 

At present, the share of Tata Motors Ltd is trading at Rs 546 up by 10.25 points or 1.91% from its previous closing of Rs 535.75 on the BSE. The scrip opened at Rs 538.05 and touched a high and low of Rs 548.40 and Rs 538, respectively. The stock has a 52-week high and low of Rs 548.50 and Rs 375.50, respectively on BSE.