Tata Motors drives smooth

Tata Motors has been among the top five gainers on the BSE since morning today. The stock, in fact has been a gainer for the past three days and today, it opened over 3.5% higher at Rs.31.40 and went on to an intraday high at Rs.33.20, which is gain of over 9.5% and hardly an inch from the 10% UC of today at Rs.33.30.

The market is happy to know that it has commenced operations at its Pantnagar (Uttarakhand) and Sanand (Gujarat) facilities after getting approvals from relevant government authorities.

The company said that its other plants in Lucknow (Uttar Pradesh), Dharwad (Karnataka), Jamshedpur (Jharkhand) and Pune (Maharashtra) are in final stage of readiness and expect to begin production over the next few days.

Nearly 200 dealerships and 300 workshops for passenger vehicles and over 400 sales outlets and 885 workshops for commercial vehicles have begun operations with a new set of standard operating procedure. The company stated that it used the lockdown time to design new ways of working, respecting the mandatory safety norms and aggressively adopting digital tools.

The company’s Board is meeting on 19th May for consideration of Q4 and FY20 earnings.