Shares of Tata Motors acquired 3% to Rs 460 on the BSE in Tuesday’s intra-day trade, in a generally subdued market, acquiring 6% in three exchanging days after the organization reported a healthy volume in the period of March.
The counter has seen enormous trading volume with a combined around 12 million shares have changed hands on the NSE and BSE till 10:33 am. In correlation, the S&P BSE Sensex was down 0.39 percent at 60,377 points.
Tata Motors’ total homegrown deals volume grew 30% year-on-year (YoY) at 86,718 units in March 2022 as against 66,462 units in March 2021.
Total domestic commercial vehicles (CV) sales rose 21% to 44,425 units in March 2022 over March 2021. Total domestic passenger vehicle (PV) deals hopped 43% to 42,293 units in March 2022 over March 2021. PV ICE (internal combustion engine) deals rose 34% to 38,936 units while PV EV (electric vehicle) deals flooded 376% to 3,357 units in March 2022 over March 2021.
The administration said commercial vehicles growth was on the back of increased activity in road construction, mining and improved infrastructure spending by the Central and State governments. Early indications of recuperation were found in the CV passenger section. Be that as it may, the administration said it is hopeful about homegrown MHCV and ILCV demand while keeping a close watch on international turns of events, fuel inflation and semiconductor shortage.
Facilitating semiconductor supplies, in the meantime, helped PV retails. CVs keep on developing increasing economic activity and high limit use.
Business firm Motilal Oswal Financial Services expects the force in the CV cycle to continue.
“We prefer companies with higher visibility in terms of a demand recovery, a strong competitive positioning, margin drivers, and balance sheet strength,” the brokerage firm said.