Tata Motors Passenger Vehicles shares to be in focus on robust November sales
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Tata Motors Passenger Vehicles (TMPV) shares are likely to attract heightened investor attention in Tuesday’s trade after the company reported robust November sales. The automaker said on Monday that its passenger vehicle sales rose 26% year-on-year (YoY) to 59,199 units, up from 47,117 units in the same month last year. Domestic sales contributed significantly to this growth, increasing 22% YoY to 57,436 units, compared with 47,063 units in November 2023. The steady rise underscores improving demand across Tata Motors’ passenger vehicle portfolio. The company currently has a market capitalization of Rs 1,33,961 crore. Over the past year, the stock has traded between a 52-week high of Rs 507.97 and a 52-week low of Rs 335.30, reflecting the broader volatility in the auto sector. Technical outlook: RSI (14-day): The stock’s Relative Strength Index stands at 26.9, placing it in the oversold zone (RSI below 30). An oversold RSI often indicat...