
Tata Motors shares surge 4% on price hike plans
The company is reportedly planning to hike prices owing to rising input costs.
The company is reportedly planning to hike prices owing to rising input costs.
Several automakers on Monday announced their plans to raise prices by January 2024.
Public issue of Tata Motors' engineering arm receives records of 73.5 lakh applications; subscribed the most at 203.41 times under the QIB quota
Tata Tech IPO was subscribed 1.93 times by 11:27 am; the quota for retail investors, NIIs and QIBs were booked 1.68 times, 2.78 times and 1.98 times, respectively.
Tata Technologies to allocate 1.58 crore shares to 67 anchor investors at ₹500 apiece, which saw participation from 17 domestic mutual funds.
The stock has risen 160% in the last eight months to hit a new 52-week high of ₹4,521.90 intraday, rebounding from its 52-week low of ₹1,735 touched on March 31, 2023.
Shares of Tata Motors hit an all-time high of ₹685.50 on Thursday
Tata Technologies IPO opens on November 22 and closes on Nov 24; lot size fixed at 30 equity share
Company reserves up to 10% of the offer for Tata Motors shareholders; price band to be decided soon
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