Tata Motors Gains 4.5% After China Reduces Import Duty On Pasenger Cars To 15%

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    In a range-bound trade on Tuesday, the stock of premium car manufacturer Tata Motors surged by 4.5% to record a day's high of Rs. 309.7 as against the previous day's close of Rs. 295.9. The surge in the stock is on the back of the news that China will reduce import duty to 15% on passenger vehicles. The move is viewed as a positive for luxury car makers such as Tata motors which manufacture the famous Jaguar Landrover.

    Tata Motors Gains 4.5% After China Reduces Import Duty On Pasenger Cars To 15%

    As per the Bloomberg report, the State Council, the cabinet of China nation, has taken the decision to reduce the levy from current 25% that is into effect from over a decade now to 15%.

    In Monday's trade, the stock of Tata Motors hit a 52-week low of Rs. 297 as the MSCI dropped Tata Motors DVR from its list.

    At 1:23 pm, the stock was seen quoting at Rs. 307.35, up 3.64% on the BSE.

    Goodreturns.in

    Story first published: Tuesday, May 22, 2018, 13:27 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more