Tata Motors shares hit all-time high ahead of Tata Technologies IPO listing date

livemint.com:

Stock market today: As investors are eagerly awaiting for the announcement of Tata Technologies IPO allotment status, Tata Motors shares witnessed buying interest among Dalal Street bulls during morning deals. This helped Tata Motors shares to extend its rally and touch new all-time high of ₹702.80 per share on NSE. While climbing to this new peak, Tata Motors share price today managed to deliver more than 75 per cent return to its positional investors in YTD.

However, stock market experts still see big upside and expect Tata Motors share price to touch ₹945 apiece levels in medium to long term. According to stock market experts, Tata Motors shares are ascending due to various rerasons — rise in sales of Jaguar and Range Rover are one of them. They said that market is expecting strong listing of Tata Technologies IPO, which is 100 per cent offer for sale (OFS).

As Tata Motors is offloading its stake in Tata Technologies IPO, the auto major is expected to benefit from this offer for sale. So, rise in sales of its premium variants and better listing price of Tata Technologies IPO is expected to enable Tata Motors to deliver strong quarterly numbers in upcoming quarters, said experts. Highlighting the reasons fueling Tata Motors shares, Saurabh Jain, Vice President — Research at SMC Global Securities said, "Tata Motors is expected to benefit from rise in sales of Jaguar and Range Rover.

Apart from this, company has managed to improve its margins in recently announced Q2 results 2023. Other reason is Tata Technologies IPO listing as market is expecting strong debut of this Tata group company's shares, which is expected to list on Friday i.e. tomorrow." On how Tata Motors is benefiting from Tata Technologies IPO, Avinash