Tata Motors moves up on starting working on gigafactory in UK
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Tata Motors is currently trading at Rs. 936.60, up by 9.80 points or 1.06% from its previous closing of Rs. 926.80 on the BSE.
The scrip opened at Rs. 939.00 and has touched a high and low of Rs. 939.50 and Rs. 928.40 respectively. So far 319554 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 949.60 on 05-Feb-2024 and a 52 week low of Rs. 400.40 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 949.60 and Rs. 865.45 respectively. The current market cap of the company is Rs. 311400.62 crore.
The promoters holding in the company stood at 46.37%, while Institutions and Non-Institutions held 36.02% and 17.60% respectively.
Tata Motors has started working on its gigafactory in Somerset in the UK, and the financial closure for the project is underway. The site has been procured and the company has already started the land-levelling work in that space.
The company had last year in July announced plans to set up a global battery cell gigafactory in the UK at an investment of over 4 billion pounds to help power the automotive sector's transition to electric mobility.
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.
