Stocks of tata motors, Automotive manufacturer

New Delhi, Oct 13 Tata Motors led the Tata group stocks in a blistering rally which catapulted the Sensex and Nifty to new highs on Wednesday. Tata Motors alone was up by Rs 88.85. Overall for the Group, the acquisition of Air India obviously acting as a catalyst but there are other triggers too.Tata Power stocks were up due to:* Excess Demand for Electricity due to coal shortage* Increase in spot price of power being traded at Rs 20/block on IEX* Tie up with Tata Motors and Morris Garage for and JLR for EV infrastructureTata Chemical was up due to:* Being major chemical producer for battery in the EV segmentTata Investment was up due to:* Represents overall Tata group* The recent acquisition of Air IndiaTata Teleservices gained due to:* The positive sentiment of overall Tata GroupTata Coffee was up due to:* Bullish price patterns* Forming higher highs and lowsGeojit Financial Services Chief Investment Strategist V.K. Vijayakumar said: "The hallmark of today's record breaking moves by the Sensex and Nifty is the surge in Tata stocks led by Tata Motors and strongly supported by Tata Consumer, Tata Chemicals and Tata Power. Surge in a heavyweight like Tata Motors by more than 20 per cent in a day is extremely rare. But this surge is backed by positive news of massive investment of Rs 7,500 crore by TPG."Kotak Securities' Deputy Vice President - Fundamental Research, Arun Agarwal, said the TPG group will invest Rs 75 billion in Tata Motors EV subsidiary and the newly-formed subsidiary will invest in expanding product offerings. Tata Motors will aggressively launch new products in EV space over the next five years. Tata Motors would be looking at leveraging its group companies to accelerate EV adoption. Favourable government policies and further decline in battery prices can rapidly accelerate electrification in the passenger vehicle industry. Tata Motors can establish itself as a formidable player in the EV space in India.Proficient Equities Founder and Director, Manoj Dalmia, said Tata Power stock was up due to excess demand for electricity due to coal shortage, the tie-up with Tata Motors and Morris Garage and JLR for EV infrastructure.Giving reasons for the rise in Tata stocks, Dalmia said Tata Chemicals is the major chemical producer for batteries in the EV segment.Tata Investment represents overall Tata group and in addition, there is the recent acquisition of Air India.The inflow of funds as well as strong demand and product tailwinds of various Tata Group products boosted sentiment, Dalmia said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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