Share Market News: Jhunjhunwala or ‘Big Bull’ as he is often called bought over 25 lakh shares of Tata Motors, increasing his stake to 1.18 per cent in the company.
New Delhi: Share Market News has been of rising interest for the people of India In the pandemic itself, the market saw scores of new investors. And interestingly, most of them were youngsters. Recently, Rakesh Jhunjhunwala invested in a Tata Group stock in a big way. Jhunjhunwala or ‘Big Bull‘ as he is often called bought over 25 lakh shares of Tata Motors.
Jhunjhunwala increased his stake in Tata Motors by 0.7 per cent. Currently, he holds a 1.18 per cent stake in the company. On Wednesday, shares of Tata Motors closed at Rs 520.7, gaining close to 2 per cent. The shares of the company, according to a report by Mint, rose almost 100 per cent in the last year.
According to Zee Business, Motilal Oswal, too, recommends Tata Motors It has given the stock a ‘buy’ rating with a target price of Rs 610. Comparing it with today’s price, the stock can give 18 per cent returns to the investors in near future. With the entry of new models in the market, the company has increased its market share considerably.
On Tuesday, Tata Motors rose the prices of its passenger vehicles by 0.9 per cent. The company, like other auto giants, have been struggling with the semiconductor shortage. Tata Motors has already entered the Electronic Vehicles (EV) segment. In fact, Tata Motors has the biggest market share in EVs.
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Rakesh Jhunjhunwala is all set to launch his new airline called Akasa Air. In 2021, according to Hurun’s rich list, his net worth was Rs 22,300 crore. In the past year, the net worth has increased by a whopping 52 per cent.
