shares of Tata Motors fell more than 2% ₹473 on the NSE in early deals on Monday ahead of its second quarter earnings to be announced today. The auto stock has delivered multibagger returns this year (year-to-date or YTD), rising nearly 160% during the period, compared to more than 264 percent in one year.
Dr Reddy’s Labs, Cipla, SBI Life Insurance, Tata Motors, UPL, Hero MotoCorp, ITC, IndusInd Bank, HCL Technologies, and Axis Bank were among the top gainers in Nifty holdings DII Holdings – over 1% QoQ, Motilal Oswal report suggested.
In Tata Motors, the stake of domestic institutional investors (DIIs) rose to 13.4 per cent in September, from 0.2% quarter-on-quarter (QoQ) and 1.8% on a sequential basis. However, FIIs (foreign institutional investors) reduced their stake in the auto major as their holdings fell 2.5% year-on-year (YoY) to 0.9% on a sequential basis.
Veteran investor and stock market trader Rakesh Jhunjhunwala, whose portfolio is closely monitored by market participants, also marginally reduced his stake in Tata Motors. As of September 2021, Jhunjhunwala holds a 1.11% stake in the auto company, down from the 1.14% he held in the April-June period.
Last month, the domestic auto major announced its plans to raise $1 billion. ₹7,500 crore) traded in its passenger electric vehicle (EV) business from TPG Rise Climate at a valuation of up to $9.1 billion.
The fund will be used by a new subsidiary of the company to partially fund an investment of $2 billion over the next five years to expand its EV business, which will include launching 10 EV models.
The new EV company will leverage all of TML’s existing investments and capabilities and catalyze future investments in electric vehicles, dedicated BEV platforms, advanced automotive technologies and charging infrastructure and battery technologies.
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