Tata Motors, M&M stocks see significant gains on improved demand outlook

While M&M closed at Rs 705.6 a piece, up 10.8 per cent - the highest in 18 months, Tata Motors' shares ended at Rs 173.6, a piece up 9.8 per cent-the highest in 33 months

It’s not very often that archrivals celebrate together, but Wednesday was an exception. Shares of Tata Motors and Mahindra and Mahindra (M&M) saw significant gains, touching record highs.
 
M&M shares closed at Rs 705.6 a piece, up 10.8 per cent, the highest in 18 months. A buzz on the Street that the company may put more loss-making subsidiaries on the block also added to the rally.
 
Tata Motors’ shares ended at Rs 173.6 a piece, up 9.8 per cent, the highest in 33 months. Apart from macro factors, including positive news on a Covid-19 vaccine, company specific factors,