Tata Motors stock gains 3% on launch of new of CVs in South Africa

Shares of Tata Motors Limited were up over 3 percent on February 16 afternoon following the company’s announcement of the commercial launch of its multipurpose heavy-duty trucks in South Africa.

“The trucks feature a walk-through cabin, power steering, dashboard-mounted gear lever, booster assisted clutch and mechanically suspended seat for safe driving,” the automobile major said in a press release.

At 1.06 pm, the stock was trading at Rs 940, up 2.2 percent from the previous close, on the NSE. In 2023, the stock was the best performer on the Nifty, gaining over 100 percent during the period.

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“The launch of the latest Ultra range in South Africa marks a new landmark in freight transportation in the country. These trucks are engineered to cater to a diverse set of applications and deliver higher performance, vehicle utilisation, uptime and more revenues,” Anurag Mehrotra, Head of International Business, said.

The Ultra T.9 and Ultra T.14 trucks are outfitted with parabolic suspension, enhancing durability and operations. These vehicles also feature Tata Motors’ flagship connected vehicle system, the Fleet Edge, facilitating efficient fleet management. This system contributes to increased fleet productivity, providing a comprehensive solution for monitoring and optimizing operations, the company said.

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