Tata Motors stock hits 1 yr high on bourses
Mumbai: Shares of Tata Motors Wednesday rose by 4 percent on the back of strong buying by investors amid positive reports on the company.
Marketmen said the uptick in the stock was fuelled by reports of an upgrade by a foreign brokerage.
"Expectation that Jaguar-Land Rover sales will continue on the upward journey helped Tata Motors gain 4 percent," Milan Bavishi, Head Research, Inventure Growth & Securities said.
Shares of the company ended at Rs 326.65 apiece, up 3.98 percent on the BSE. During the day, the scrip rallied 5 percent to Rs 329.90 -- its 52-week high level.
The scrip was the top gainer among the 30-Sensex bluechip companies.
At NSE, the stock settled at Rs 327, up 4.09 percent from its previous close.
On the volumes front, 24.30 lakh shares of the company changed hands on the BSE, while more than one crore shares were traded on NSE.
Rally in the stock was in contrast with an overall weak stock market, where the BSE benchmark Sensex ended at 19,666.59, down 75.93 points.