Tata Motors shares in focus today post June sales show

Shares of multibagger Tata Motors Ltd are in focus today after the Tata Group firm logged a 1 per cent rise in total domestic sales at 80,383 units in June 2023 as against 79,606 units in the year-ago month. Tata Motors shares closed 1.50% higher at Rs 595.50 in the current session against the previous close of Rs 586.70 on BSE. The auto stock has surged 51% this year and zoomed 44% in a year.

Tata Motors stock opened higher at Rs 587.60 on BSE. Market cap of the firm rose to Rs 1.97 lakh crore. Total 13.61 lakh shares changed hands amounting to a turnover of Rs 80.94 crore on June 30. Tata Motors stock hit a 52-week low of Rs 375.50 on December 26, 2022 and a 52-week high of Rs 599 in the last session.

In terms of technicals, the relative strength index (RSI) of Tata Motors stood at 70.7, signaling it's trading neither in the overbought nor in the oversold zone. Tata Motors stock has a one-year beta of 1.2, indicating high volatility during the period. Tata Motors shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Domestic passenger vehicle sales, including electric vehicles for Tata Motors rose to 47,235 units in June compared to 45,197 units in the corresponding month a year ago, a growth of 5 per cent.

Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said the passenger vehicle industry in the first quarter saw a robust demand driven by new launches, especially in the SUV segment and EVs.

"Tata Motors continued its growth trajectory registering quarterly sales of 1,40,450 units in Q1 FY24 and recording a growth of 8 per cent over Q1 FY23," he added.

In the EV segment, he said the company posted its "highest-ever quarterly sales of 19,346 in Q1 FY24, logging a growth of 105 per cent over Q1 FY23".

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