Intraday Spotlight: Tata Motors trades higher by 2 per cent on JLR-Nvidia deal
The move is expected to accelerate JLR’s transition towards software-enabled electric cars and autonomous driving.
Shares of a domestic automaker, Tata Motors were trading higher by 2 per cent in the early trade session on Thursday as investors cheered the announcement of Jaguar Land Rover's (JLR) multi-year strategic partnership with the world’s largest producer of graphic and artificial intelligence (AI) chips, Nvidia.
According to the company’s filing with the BSE, starting in 2025, all new Jaguar and Land Rover vehicles will be built on the NVIDIA DRIVE™ software-defined platform—delivering a wide spectrum of active safety, automated driving and parking systems as well as driver assistance systems.
The move is expected to accelerate JLR’s transition towards software-enabled electric cars and autonomous driving.
Besides the partnership with Nvidia, the stock also reacted positively to a prominent brokers initiation of coverage on the scrip with an ‘overweight’ rating. Tata Motors plans to bring to market 10 electric car models over the next 4-5 years and aims to capture the major share of a burgeoning new market amid a government push for electrification of India’s automobile fleet.
At 11.32 am on Thursday, the stock of Tata Motors Limited was trading at Rs 506.35, up by 1.64 per cent or Rs 8.15 per share on BSE. The 52-week high of the scrip is recorded at Rs 536.50 and the 52-week low at Rs 268.50 on the BSE.