tata motors share price, Tata Motors Share: Market down, but Tata’s share booms; There is still an opportunity, take advantage on time! – Tata motors share price this tata group stock jumped 42 percent in 2023 should you go for profit booking
Tata Motors shares bounce
Shares of Tata Motors have been trading bullish ever since Tata Technologies Ltd filed its DRHP (Draft Red Herring Prospectus) for its IPO with market regulator Sebi. The IT company has filed DRHP for Tata Technologies’ IPO three months ago and in these three months Tata Motors share price has gone up to Rs. 430 per share. It has increased to 562. Apart from this, the bullish trend in Tata Motors shares will continue as the market expects Tata Motors to reap huge gains after the Tata Technologies IPO launch, experts believe. Interestingly, despite the domestic market down, the shares of Tata Motors have been trading at a bullish pace in the last few sessions.
IPO of Tata Technologies
According to stock market experts, Tata Technologies IPO has shareholding of Tata Motors and the auto major is offering its shares for sale in this public issue, which is 100% Offer for Sale (OFS). This means that the net proceeds of the Tata Technologies IPO will strengthen the balance sheet of Tata Motors instead of Tata Technologies. Tata Technologies filed DRHP with SEBI on March 9, 2023.
Tata Motors share movement
The stock has returned 50 percent to its investors in the last five months and the shares have been on a sustained run for the past few days. The stock has gained 9% in the past one month. In such a situation, the new investors have a question as to what level to invest in these shares now. Also, existing shareholders are keen to know at what level profit booking should be done in Tata Motors shares.
Shares of Tata Motors have returned more than 5% in the last 5 days and the shares have gained around 28% in six months and 26% in one year. However, the stock has been moving in a big bullish direction for the past 6 months. Notably, Tata Motors stock is at its 6-year high. In October 2016, the share price of the company was Rs 544, while currently the share closed at Rs 562.15.