Tata Motors will set up a plant worth Rs 9,000 crore in Tamil Nadu
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Tata Motors: Included among the largest vehicle manufacturing companies of the country Tata Motors Has taken a big leap in the business world. The company is going to set up a plant worth Rs 9 thousand crore in Tamil Nadu. This information has been given by TRB Raja, head of industry in the state. He told that a memorandum of understanding has been signed between the state government and the company regarding this. An official release said the proposed unit in Ranipet district would generate 5,000 new jobs. Tata Motors Chief Financial Officer (CFO) P B Balaji and Guidance Tamil Nadu Managing Director (MD) and Chief Executive Officer (CEO) V Vishnu shared the documents in the presence of Chief Minister MK Stalin. The king was also present on this occasion.
Two companies are going to invest in the state
State Industries Minister TRB Raja wrote on social networking platform ‘X’ that Tata Motors and Tamil Nadu government are preparing for a historic visit. Chief Minister MK Stalin, Tata Motors today signed an MoU with the Government of Tamil Nadu to set up a state-of-the-art vehicle manufacturing unit. There will be an investment of Rs 9000 crore in this and more than 5000 jobs will be created. He said in another post that for the first time Tamil Nadu has attracted two large vehicle manufacturing investments within a period of just two months. The state government has received the second major investment from Vietnamese company Vinfast. The company has committed to invest Rs 16,000 crore for an electric vehicle manufacturing unit in the southern district of Thoothukudi.
What is the condition of the stock?
There is a decline in the shares of Tata Motors today. The company’s stock is trading at Rs 968.75, down 0.46 percent or Rs 4.45. However, in the last one month the company has given a return of around Rs 5.49 to investors. At the same time, it has given bumper returns of 55.10 percent in the last six months and 132.51 percent on annual basis. On March 14, 2023, the share price of the company was Rs 416.65. In the last 52 weeks the company’s stock had reached the highest level of Rs 1065.60. At the same time, it has broken to the lowest level of Rs 400.45 in 52 weeks.
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