Over the past year, Tata Motors' stock has surged, doubling its value, surpassing the Nifty's returns of around 19 percent.
Recently, the Tata Motors stock reached a new high of Rs 802, marking a significant increase from its 52-week low of Rs 381. This performance equates to a remarkable 79.6 percent return above the Nifty returns.
N Chandrasekaran, the Chairman of Tata Sons, expressed his satisfaction with the group's financial performance, citing a 32 percent increase in the combined market capitalization of Tata Group companies in 2023. This growth rate nearly doubled that of the Sensex, which rose by 17 percent during the same period.
In a letter to group employees for the new year 2024, Chandrasekaran highlighted the Group's commitment to innovation and progress, emphasizing the positive financial outcomes as a reflection of these efforts.
He expressed his delight over the Group's commendable performance in a challenging global context, attributing their success to the ongoing transformation guided by principles like Simplification, Synergy, Scale, Sustainability, Supply Chain, and AI across their companies.
Chandrasekaran also highlighted significant achievements such as Tata Technologies’ historic IPO and the announcement of new gigafactories, anticipating these strategic moves to pave the way for resilient growth in the coming decades.
(With Agency Inputs)
ALSO READ | Automobile Industry Optimistic About Strong Demand During Dhanteras and Diwali
ALSO READ | Singur plant row: Tata Motors can recover Rs 766 cr from Bengal govt as compensation
