Tata Motors Shares Rise Over 3% as Company Unveils New Heavy-Duty Trucks in South Africa.
Shares of Tata Motors Limited witnessed a surge of over 3 percent during afternoon trading on February 16, following the company’s announcement of the commercial launch of its multipurpose heavy-duty trucks in South Africa.
According to a press release by the automobile major, the newly launched trucks boast several features aimed at enhancing safety and comfort for drivers, including a walk-through cabin, power steering, dashboard-mounted gear lever, booster-assisted clutch, and a mechanically suspended seat.
As of 1:06 pm, the stock was trading at Rs 940 on the National Stock Exchange (NSE), marking a 2.2 percent increase from the previous close. Notably, in 2023, Tata Motors emerged as the top performer on the Nifty index, registering a remarkable gain of over 100 percent during the period.
“The introduction of the latest Ultra range in South Africa represents a significant milestone in the realm of freight transportation within the country. These trucks are meticulously engineered to address a wide spectrum of applications, offering enhanced performance, vehicle utilization, uptime, and increased revenues,” stated Anurag Mehrotra, Head of International Business.