Nano frenzy drives Tata Motors stocks up 8 pc
Shares of Tata Motors soared as much as eight per cent on the domestic bourses in the morning trade on Monday as the company is scheduled to launch its much-awaited and the world’s least expensive car, Nano, later in the day.
On the Bombay Stock Exchange, Tata Motors opened on a firm note and surged over eight per cent to touch an intra-day high of Rs 173.85.
Similarly, on the National Stock Exchange, the scrip opened at Rs 165 and soon witnessed a rally and jumped 7.76 per cent from its previous close to touch a high of Rs 173.40.
Marketmen said the surge in the counter is largely due to the fact that Nano’s commercial launch would mark a milestone in a journey and the car has the potential to redefine the personal transportation in modern India.
This article was originally posted on IBNLive.com