Tata Motors Ltd. share price rebounded from losses on Thursday as the company said that it will acquire Iveco S.p.A, in a deal for 3.82 billion euros, or approximately Rs 33,360 crore. The deal will happen in all cash. This is the single largest deal by Tata Motors. The previous largest deal was in 2008, when it acquired Jaguar Land Rover from Ford for $ 2.3 billion.
On Wednesday, the Tata Group company's share price declined 3.91% to Rs 665.25 apiece. It settled 3.45% down at Rs 668.45 apiece. Earlier in the day, the share price slumped tracking overall weakness in the market because of US's threat to impose penalty and high tariffs on India.
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Tata Motors Share Price Today
Tata Motors share price fell 2.41% to Rs 652.35 apiece earlier in the session. However, it erased losses to trade 0.08% higher at Rs 669.2 apiece as of 12:07 p.m., compared to 0.38% decline in the NSE Nifty 50 index.
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The stock declined 42% in 12 months, and 9.63% on year-to-date basis. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 47.91.
Out of 43 analysts tracking the company, 17 maintain a 'buy' rating, 10 recommend a 'hold' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.2%.
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