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TPG Rise Climate along with co-investors ADQ, shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11% to 15% stake in a newly incorporated subsidiary of Tata Motors, translating to an equity valuation of up to $9.1 billion. The recent surge materialised after Tata Motors on 12 October 2021 announced that it will raise $1 billion (Rs 7500 crore) in its passenger electric vehicle business at a valuation of upto $9.1 billion from TPG Rise Climate. These levels will act as near-term support. The stock was trading above its 20-day simple moving average (SMA) placed at 463.05 and 50-day SMA at 411.56. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
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On the technical front, the stock's RSI (relative strength index) stood at 75.27. In the past one month, the stock has surged 62.87% as against 4.98% rise in the Sensex. It has surged 294.96% from its 52-week low of Rs 126 hit on 16 October 2020. The stock hit a 52-week high of Rs 532.40 today. Shares of Tata Motors surged 50.82% in the past five sessions to end at Rs 506.75 on 13 October 2021 from its recent closing low of Rs 336 on 6 October 2021. Total revenue from operations soared 107.63% YoY to Rs 66,406.45 crore in Q1 FY22. The auto major's consolidated net loss contracted to Rs 4,450.92 crore in Q1 FY22 as compared to a net loss of Rs 8,437.99 crore in Q1 FY21. Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. This order will further strengthen our roadmap of making EVs mainstream.” We recently crossed a key milestone of 10,000 EVs on road, which is a strong testament to how our innovative electric vehicles are resonating well with customers.
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We are delighted to partner with BluSmart Mobility and we are thankful to them for their continued efforts in growing the electric fleet in Delhi-NCR. Ramesh Dorairajan, head - electric vehicles (commercial), Tata Motors, “With the XPRES- T EV, Tata Motors has developed an electric sedan exclusively for the fleet customers. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR. The challenger brand in mobility has completed more than 700,000 rides till date covering over 22 million clean KMs on electric vehicles. as more customers now prefer to travel in environment-friendly vehicles, the auto maker said.īluSmart Mobility offers all-electric ride-hailing service across Delhi NCR. This contract marks a key milestone in the electric fleet market. The XPRES -T EV was launched by the Tata Group company in September 2021. As a part of this MOU, Tata Motors will deliver 3,500 XPRES T EVs to BluSmart Mobility.