Sensex gained more than 727 points in early trade on September 20, 2022 amid the continuous uncertainty prevailing over the quantum of US Federal Policy rate hike. It is worth mentioning that Federal Reserve meets today and if initial reports are to be believed may announce a 75 basis point interest rate hike.
Domestic investors displayed a fearless approach today and pushed the markets higher in early trade. BSE sensex gained 727 points in early trade or 1.23% to 59,86 while broader NSE Nifty surged by 230 points or 1.31% to 17,853.
Amid the rising share market, one of Tata Group stocks made strong gains. Tata Motors Ltd gained 3.35% in morning trade today. The current market price of the stock after a gain of more than 3% is Rs 439 apiece.
Tata Motors Stock Outlook: Tata Motors 52-week high is Rs 536 apiece and 52-week low is Rs 293 apiece, respectively. The company has a market capitalisation of Rs 1,46,048 crore at the time of writing the report.
Earlier this month reiterating Tata Group's promise towards promoting sustainable manufacturing, Tata Motors and Tata Power have entered into a Power Purchase Agreement (PPA) to develop a 4 MWp on-site solar project at Tata Motors' Pune commercial vehicle manufacturing facility. A significant step towards building a resilient and sustainable future, the installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission. This is equivalent to planting over 16 lakh teak trees over a lifetime.
Mr. Alok Kumar Singh, Plant Head, Commercial Vehicle Manufacturing Facility, Plant, Tata Motors said, "It has been our continuous endeavour to reduce greenhouse gas emissions to achieve Net Zero Emission goal. We have been exploring different avenues and business models for using renewable energy to promote sustainable business growth. In FY22, the total renewable energy contribution at our CV Pune plant was 32%. With this agreement, we reaffirm our commitment to moving closer to our goals of cultivating 100% renewable energy capacity."
About Tata Motors: It is one among India's largest automobile manufacturers, with a footprint in commercial cars, sports utility vehicles, trucks, buses and defence vehicles. The company operates in two major segments-Automotive Operations and Other Operations.
Tata Motors was established in 1945 as part of the Tata Group and is headquartered in Mumbai, Maharashtra. On the National Stock Exchange (NSE), it has been allotted the symbol TATAMOTORS while the Bombay Stock Exchange (BSE) has allotted the company the number 500570.