)
Tata Motors has rallied 3% to Rs 584, extending its previous day’s 3% surge on BSE, after the company has launched the Bolt, a hatchback, starting at Rs 4.64 lakh (ex-showroom, Mumbai). The company has already received 1,500 bookings for the car.
“Bolt is likely to strengthen Tata’s presence in the hatchback segment and enable the company to regain some market share. In a bid to revamp the ageing portfolio, Tata Motors intends to launch two new car models every year until 2020,” analyst at Angel Broking said in a client note.
Meanwhile, the European Central Bank announcement of stimulus measures that exceeded expectations also fuelled rally in the stocks. Europe accounted 40% of total consolidated revenues for Tata Motors for the financial year 2013-14.
The stock opened at Rs 574 and hit a new high of Rs 586 on BSE. Till 0935 hours, a combined 2.01 million shares changed hands on the counter on BSE and NSE.
“Bolt is likely to strengthen Tata’s presence in the hatchback segment and enable the company to regain some market share. In a bid to revamp the ageing portfolio, Tata Motors intends to launch two new car models every year until 2020,” analyst at Angel Broking said in a client note.
Meanwhile, the European Central Bank announcement of stimulus measures that exceeded expectations also fuelled rally in the stocks. Europe accounted 40% of total consolidated revenues for Tata Motors for the financial year 2013-14.
The stock opened at Rs 574 and hit a new high of Rs 586 on BSE. Till 0935 hours, a combined 2.01 million shares changed hands on the counter on BSE and NSE.
