Shares of this automobile giant jumped over 6 per cent in a falling market!

Share price accelerated after the company announced its Q3 results and was up by more than 6 per cent.

On Friday, the shares opened at Rs 440.00 and made their day high at Rs 453.20 a piece. 

Tata Motors recorded a more than two-fold increase in net profit for the third quarter that concluded on December 31, 2022, as opposed to the same period the previous year, when it was just Rs 175.85 crore. When compared to the same quarter last year, the company's total revenue climbed by 27.82 per cent, or Rs 15,967.16 crore, to Rs 12,491.52 crore.

The firm recorded a net profit of Rs 3,043.15 crore, on a consolidated basis, for the third quarter that ended on December 31, 2022, compared to a net loss of Rs 1,451.05 crore for the same quarter the year prior. Comparing the third fiscal quarter of FY23 to the third fiscal quarter of FY22, the company's total revenue climbed 22.88 per cent to Rs 89,618.97 crore from Rs 72,931.86 crore.

Tata Motor Group is a well-known international automaker. It provides the globe with a vast and varied selection of automobiles, sports utility vehicles, lorries, buses, and defence vehicles as a member of the renowned multinational corporation known as the Tata Group.

Through a robust worldwide network of subsidiaries, associate firms, and joint ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea, it operates in India, the UK, South Korea, South Africa, China, Brazil, Austria, and Slovakia.

The 52-week high of the stock is Rs 519.50, whereas the 52-week low was Rs 366.05. Promoters hold 46.39 per cent, whereas institutional and non-institutional holdings are 29.24 per cent and 24.36 per cent, respectively. Presently, the market cap of the company is Rs 1,47,981.46 crore.