Tata Motors rises on suppling over 100 units of Tata Ace EV to Magenta Mobility
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Tata Motors is currently trading at Rs. 994.95, up by 7.85 points or 0.80% from its previous closing of Rs. 987.10 on the BSE.
The scrip opened at Rs. 995.60 and has touched a high and low of Rs. 1010.00 and Rs. 990.60 respectively. So far 916674 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1065.60 on 05-Mar-2024 and a 52 week low of Rs. 557.45 on 23-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1010.00 and Rs. 931.50 respectively. The current market cap of the company is Rs. 331699.86 crore.
The promoters holding in the company stood at 46.36%, while Institutions and Non-Institutions held 35.34% and 18.30% respectively.
Tata Motors and Magenta Mobility have solidified partnership with the deployment of over 100 units of Tata Ace EV which include over 60 units of Ace EV and over 40 units of the recently launched Ace EV 1000. With the extension of its partnership with Tata Motors and the deployment of 100 Tata Ace EVs, Magenta reaffirms its commitment to decarbonising logistics. This deployment is part of the MoU inked between the two entities in October 2023, which targeted 500 units of the revolutionary Tata Ace EV.
The Ace EV is powered by EVOGEN powertrain that offers an unparalleled driving experience with a 7-year battery warranty and a 5-year comprehensive maintenance package. It delivers safe, all-weather operations with an advanced battery cooling system and regenerative braking system to boost the driving range. It allows regular and fast charging capabilities for high uptime. It is powered by a 27kW (36hp) motor with 130Nm of peak torque, to ensure best-in-class pickup and grade-ability allowing easy ascend in fully loaded conditions. The vehicle’s robust performance, with near-100% uptime, has received an overwhelming response from customers.
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.
