Stock jumps after forming joint venture with Tata Group
pre-market1 source ↓written by the desknot a recommendation
- after forming
- 2%
- with Tata Autocomp
- 50:50 joint venture
- ₹94 cr
- Currently trading
- ₹31,114.6
- return
- 14%
Shares of a leading supplier surged over 2% after forming a 50:50 joint venture with Tata Autocomp to manufacture e-axles and electric motors. The planned capital for this venture is up to ₹94 cr. Currently trading at ₹31,114.6, the stock has seen a 14% return over the past year despite a 13% decline in the last month.
Not investment advice. For informational purposes only.