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Tata Motors, India's leading automaker, is reportedly exploring options to import Jaguar Land Rover (JLR) electric vehicles (EVs) under the recently announced government policy aimed at promoting EV adoption.
Shares Of Tata Motors: The stock, currently up 6.5%, is leading the Nifty Auto index and among top gainers on the blue-chip Nifty 50 Index, which are up 1.88% and 0.39%, respectively. JLR, which accounts for two-thirds of its parent's revenue, posted a 22% uptick in revenue during the quarter.
Tata Motors Shares: Following the updates, brokerage Motilal Oswal reiterated a buy on the Tata Motors stock for a price target of INR 800 which is a 14% upside over the Monday closing price of INR 789.
Tata Consultancy Services JLR: As a part of the new partnership, TCS will deliver services spanning application development & maintenance, enterprise infrastructure management, cloud migration, cybersecurity and data services.
The BBC reported that people familiar with the matter said the new plant in Somerset, south west England, would be officially announced on Wednesday. Its sources claim that the government will be providing subsidies worth hundreds of millions of pounds for the new factory.