Tata Motors shares rally 5% in 2 days on U.S. trade deal hopes
[hfe_template id='11223']
[ad_1]
Shares of Tata Motors surged for a second consecutive session on Thursday, gaining as much as 2.4% to Rs 706.5 on the BSE, driven by optimism surrounding global trade deals that could ease tariffs on automobile exports. The stock has advanced 4.9% over the past two sessions. The broader Nifty Auto index climbed 0.6% on Thursday, tracking a global uptick in automotive shares after the United States signed a landmark trade agreement with Japan this week. The US–Japan deal slashed tariffs on Japanese car exports to the US from 25% to 15%, triggering a rally in global auto markets and fuelling speculation of further trade pacts. Reports suggest that Washington is now close to finalising a similar agreement with the European Union, which could see tariffs on car imports cut to 15% from the current 27.5%. The reports indicated that the EU may agree to this levy to avoid the 30% tariff hike threatened by US President Donald Trump from August 1. ...