Tata Motors hits over 5-month high; gains 10% in 9 days on positive outlook

Analysts at ICICI Securities expect the stock to maintain positive bias and head towards Rs 509 levels in the coming weeks

Shares of Tata Motors hit an over five-month high of Rs 484.25 as they gained 2 per cent on the BSE in Thursday's intra-day trade. The stock has surged 10 per cent in the past nine trading days driven by positive demand outlook.

The stock of the automobile company was trading at its highest level since February 23, 2022. In the past three months, it has outperformed the market by surging nearly 25 per cent as against a 10 per cent rise in the S&P BSE Sensex.

Earlier this week, Tata Passenger Electric Mobility Ltd (TPEML), a Tata