Shares of the auto giant experienced a notable 3% surge, reaching an intraday high of ₹947.40. The positive momentum is attributed to reports suggesting Tata Motors’ contemplation of spinning off its battery business, Agratas Energy Storage Solutions, potentially paving the way for fundraising and an eventual public listing. The estimated valuation for Agratas in the prospective listing ranges between $5 billion to $10 billion, contingent on market dynamics and growth trends.
In financial terms, Jhunjhunwala, holding a 1.6% stake in Tata Motors, equivalent to 53,256,000 shares, witnessed a substantial increase in her wealth. With the stock’s previous close at ₹920.55, her holdings were valued at ₹4,902.4 crore. However, with the stock reaching an all-time high of ₹947.40 today, the value of her stake soared to ₹5,045.4 crore.
The current price action indicates Tata Motors’ share price rising by 2.51%, trading at ₹943.70 shortly after the market opened on Friday.