Tata Motors shares in focus today as firm announces price hike from May

Shares of Tata Motors are in focus today after auto firm on Friday said it would raise prices of its passenger vehicles from May 1 to partially offset increase in input costs. Tata Motors stock was trading at Rs 472, up 0.52% in the pre-open session against the previous close of Rs 469.55 on BSE. Market cap of the firm stood lakh crore. Tata Motors stock has gained 8.94 per cent in a year and risen 21 per cent in 2023.

Tata Motors stock hit a 52-week high of Rs 494.50 on August 17, 2022 and a 52-week low of Rs 366.05 on May 12, 2022.

In terms of technicals, the relative strength index (RSI) of Tata Motors stands at 71.1, signaling it's trading in the overbought zone. Tata Motors stock has a one-year beta of 1.3, indicating very high volatility during the period. Tata Motors shares are trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The weighted average rise will be 0.6 per cent, depending on the variant and model, Tata Motors said. This will be the second price hike by the company for its PVs after February.

"Tata Motors has been absorbing a significant portion of the increased costs on account of regulatory changes and rise in overall input costs and is hence compelled to pass on some proportion through this hike," it said.

The company sells a range of passenger vehicles, including cars such as Tiago, Tigor and Altroz; and SUVs such as Punch, Nexon, Harrier and Safari, with prices ranging from Rs 5.54 lakh and Rs 25 lakh

In February this year, the company had raised prices across its internal combustion engine (ICE) portfolio of passenger vehicles at an average of 1.2 per cent.

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