Rakesh Jhunjhunwala gains ₹640 crore from this Tata stock

Rakesh Jhunjhunwala gains 640 crore from this Tata stock in 9 days:

Rakesh Jhunjhunwala portfolio: Tata Motors share price today climbed to its new 52-week high of 502.90

apiece on NSE.

The Rakesh Jhunjhunwala holding stock opened today with an upside gap of 42.05 per share and went

on to ascend new 52-week peak in early morning deals.

The Tata stock has been skyrocketing for the last one month as it has risen 60 per cent in last one month.

However, if we look at Tata Motors share performance in October 2021, this auto stock has helped

Rakesh Jhunjhunwala’s net worth grow by near 640 crore in just 9 trade sessions only.

Rakesh Jhunjhunwala holding in Tata Motors

As per the shareholding pattern of Tata Motors for April to June 2021 quarter, Rakesh Jhunjhunwala

owns 3,77,50,000 shares, which is 1.14 per cent of the total issued paid up capital of Tata Motors.

Tata Motors share price rallies 20% on TPG investment in EV biz:

Tata Motors share price surged as much as 20% to Rs 502 apiece on BSE on Wednesday, after Rakesh Jhunjhunwala’s portfolio firm said to raise Rs 7500 crore from TPG’s Rise Climate Fund and

Abu Dhabi’s ADQ.

Tata will form a separate electric mobility unit in which TPG and ADQ will get between 11% and

15% share against compulsorily convertible shares, valuing the new entity at about $9.1 billion.

Analysts say that this entire deal might help its peer company Tata Power too in the long run, due to

its presence in EV charging stations which will help the overall ecosystem for EV space in India.

“This rally may continue in the long term and will help Tata Motors in both passenger and commercial

vehicle space.

On the current valuations front, Tata Motors is looking attractive and the stock may cross Rs 600-mark in

next few quarters and it is worth holding for mid to long term,” Harsh Patidar, Auto Analyst at CapitalVia

Global Research.

Tata Motors said that the fund will be used to partly fund investment of $2 billion (over Rs 16,000 crore) in

the next five years by a new subsidiary of the company for expanding its EV business, including the launching

of 10 EV models.

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