India’s most valued automaker in terms of market capitalisation is now Tata Motors, replacing Maruti Suzuki Limited. This comes after seven years of Maruti Suzuki holding the top spot. Based on the closing price on the National Stock Exchange (NSE) on Tuesday, the combined market capitalization of Tata Motors and Tata Motors DVR was recorded at Rs 3.17 lakh crore, while Maruti Suzuki stood at Rs 3.13 lakh crore.
Also read: Tata Punch.ev Launched, India’s Most Affordable Electric SUV: Price, Variants, Range
Tata Motors’ shares rose by 5 percent on Tuesday, reaching a 52-week high of Rs 886.30 on the BSE. Tata Motors’ stock has risen by around 10 percent this year, while Maruti Suzuki’s shares have experienced a decline of 3.4 percent.
Reports suggest that the surge in Tata Motors’ stocks was due to Jaguar Land Rover’s record sales in Q3. The wholesale of Range Rover, Range Rover Sport, and Defender accounted for 62 percent of the sales, with Range Rover registering a growth of 250 percent and Defender experiencing a growth of 150 percent in terms of year-on-year numbers.
Tata Motors is a prominent commercial vehicle maker in India and stands at the third spot among passenger vehicle manufacturers. Additionally, the automaker has a significant presence in the domestic electric car market, with a share of more than 80 percent. The brand sold 69,153 electric vehicles in CY2023.
Tata Motors is also expanding its presence in the Indian electric car market, having recently launched the Tata Punch EV in the Indian market. With the new electric SUV, the brand has introduced the Acti.EV platform, which will be used in future vehicles in the brand’s portfolio, including electric versions of Harrier, Safari, Curvv, and Sierra. The new platform will enable these vehicles to have a range between 300-600 km on a single charge.
Tata Punch.ev
On the other hand, Tata Motors is on a launch spree in the Indian market. Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors recently launched its first pure EV – the Tata Punch.ev in India. Priced at Rs 10.99 lakh (ex-showroom, introductory), the Tata Punch.ev has become the most affordable electric SUV in the country.
The Tata Punch.ev is the first product based on its recently introduced, advanced Pure EV architecture – acti.ev. It is the fourth electric car in the portfolio of Tata Motors, which now includes electric cars in all body types like Tata Tiago.ev (hatchback), Tata Tigor.ev (compact sedan), Tata Punch.ev (sub-compact SUV) and Tata Nexon.ev (compact SUV).
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