Heavy buying: Ace investor Rakesh Jhunjhunwala’s portfolio stock hits a fresh 52-week high!

Shares of this company have gained more than 50 per cent in the last six months.

On July 07, 2023, shares of Tata Motors Limited made a fresh 52-week high, gaining 2.90 per cent on Friday. Over the past month, the company’s shares have gained more than 10 per cent. On Friday, the stock opened at Rs 600.80, with a high and low of Rs 624.65 and Rs 592.25. The stock closed trading at Rs 618.45, showing a 2.94 per cent increase.     

The positive sentiment in the stock came after the company announced, Tata Motors Group global wholesales at 3,22,159 (including Jaguar Land Rover), which is 5 per cent increase on YoY basis. The company also informed that the company’s order book remains strong with 1,85,000 units. And Demand for Range Rover, Range Rover Sport and Defender continues to be particularly strong, with retail sales up significantly vs. Q1 FY23 and representing 76% of the order book.  

The stock has also delivered multibagger returns to its shareholders, the company’s share price gaining from Rs 107.60 on July 10, 2020, to Rs 618.45 on July 08, 2023, representing an increase of about 470 per cent. The stock has exhibited tremendous growth and has provided multibagger returns to its shareholders over three years holding period.   

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.