MUMBAI: The launch of Tata Motors’ Rs 1 lakh car saw the auto major’s shares surge 4 per cent, but soon gave away some gains.
At 12:25 pm, Tata Motors shares were up 1.38 per cent at Rs 781.05, coming off a high of Rs 802.30 with volume traded at 5,92,215 against two-week average of 2,85,995 shares.
The small car named ‘Nano’, a hatchback with a 624cc engine, is priced at about half that of the current cheapest car in the market, and is a sharp contrast to the luxury Jaguar and Land Rover brands that Tata is negotiating to buy from Ford Motor Company.
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