Tata Motors Shares Dive 11% in a month

5 Nov 2024 , 12:42 PM

From its July top of Rs 1,179, shares of Tata Motors, a company in the Tata Group, have dropped 11% in the past month and corrected by over 30%.

Since then, the stock has been declining, and it is now developing a wedge-shaped chart pattern.

The surge in Tata Motors from below 400 levels to the peak of Rs 1,179 is currently being retraced.

Additionally, new releases in a variety of powertrains are anticipated to enable a market share recovery in the domestic passenger vehicle industry in FY26–27E.

In October 2024, Tata Motors Limited sold 82,682 cars in the domestic and foreign markets, up from 82,954 units in October 2023.

In October 2024, MH&ICV Domestic & International Business sold 16,274 units total, including trucks and buses, up from 16,048 units in October 2023.

Around noon today, Tata Motors’ stock was trading flat on the BSE at Rs 826.30.

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