Tata Motors shares hit record high on February sales; check details

Tata Motors shares hit record high on February sales; check details

Shares of Tata Motors Ltd hit a record high today after the Tata Group firm reported a 8.4% rise in domestic and international sales for February 2024. Total sales rose to 86,406 vehicles in the last month compared to 79,705 units during February 2023.Tata Motors shares climbed 2.90% to a fresh high of Rs 978.45 in the afternoon deals. Market cap of the firm rose to Rs 3.23 lakh crore.Tata Motors stock hit a 52-week low of Rs 400.40 on March 28, 2023.

With today’s rally, the Tata Group has climbed 144.36% from its 52-week low.

Domestice sales rose to 84,834 units in February 2024 against 78,006 units in the corresponding month of last year.

Sales of commercial vehicles in the domestic market slipped 4% to 33,567 units last month compared to 35144 units in  February 2023.

Sales of passenger vehicles (both domestic and international) surged 30% to 6,923 units in February 2024 against 5318 units in corresponding period of last year.  Domestic passenger vehicles sales (including EVs) climbed 20% to 51,267 last month against 42,862 units of February 2023.

Tata Motors stock has a one-year beta of 0.4, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Tata Motors stood at 68.1, signaling it’s trading neither in the overbought nor in the overbought zone. Tata Motors shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

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