Tata Motors, the automobile flagship of the Tata Group, rose significantly on Thursday’s trading session as brokerage houses are bullish on the business and have named it a top selection for this month as well. The company’s shares touched a fresh 52-week high of Rs367.65 per share in early trading before reversing on the Sensex, although it maintained its solid upside. Tata Motors was selling at Rs364.65 per share at 10.13 a.m., up Rs28.65 or 8.5 percent on the Sensex. The company’s market capitalization has risen to more than Rs1.21 lakh crore at this rate.

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The company’s market capitalization has increased by a staggering Rs9,595.69cr from the previous trading session. The market cap is now at Rs1,21,158.03 crore, compared to the valuation of Rs1,11,562.34 crore at Wednesday’s closing price. Tata Motors sold 1,71,270 automobiles in the September 2021 quarter, up from 1,10,345 units in Q2FY21. In the most recent quarter, the company’s revenues increased by a staggering 55% year over year.

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Brokerages are optimistic for the firm since all three businesses are recovering. The passenger vehicle business of Tata Motors is seeing systemic recovery, whereas the commercial sector is experiencing cyclic recovery. Furthermore, there are no near-term catalysts from JLR’s operations, which has made the firm a top selection in the automobile market.

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Tata Motors’ electric car division is likewise well-positioned in the market. Rakesh Jhunjhunwala, the ace investor, profits greatly from Tata Motors’ extraordinary increase on Thursday. The Dalal Street king owns 37,750,000 equity shares in Tata Motors, representing a 1.1 percent interest in the business as of June 2021. According to Trendlyne.com, Jhunjhunwala’s stake in Tata Motors is worth roughly Rs1,270 crore.