Tata Motors rides high on planning to set up separate sales network for EVs in current fiscal year

Tata Motors is currently trading at Rs. 641.00, up by 6.85 points or 1.08% from its previous closing of Rs. 634.15 on the BSE.

The scrip opened at Rs. 635.05 and has touched a high and low of Rs. 644.10 and Rs. 633.10 respectively. So far 387336 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 665.30 on 26-Jul-2023 and a 52 week low of Rs. 375.50 on 26-Dec-2022.

Last one week high and low of the scrip stood at Rs. 644.10 and Rs. 615.60 respectively. The current market cap of the company is Rs. 213342.59 crore.

The promoters holding in the company stood at 46.39% while Institutions and Non-Institutions held 35.23% and 16.99% respectively.

Tata Motors is planning to set up separate sales network for its electric passenger vehicles in current fiscal year as it looks to give differentiated experience to the buyers opting for the environment-friendly models. The company, which introduced all-new versions of its Nexon EV and Nexon (internal combustion engine), will start experimenting with new outlets in some of the cities where EV volumes have gone up.

Tata Motors’ current EV portfolio comprises the flagship SUV Nexon EV range, Tiago EV, Tigor EV and the XPRES-T EV. As per the company, the demand for EVs is witnessing an upward trend and for Tata Motors, the EV range accounts for 13-15 per cent of the company’s overall sales.

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