Tata Motors races ahead as investors accumulate stock

Even as investors turn cautious about the prospects of Tata Motors, a leading domestic insurer has been accumulating the stock in the past couple of weeks. The stock, which rose 1.3% to close at Rs 248.85 on Monday, has moved between Rs 225 and Rs 245 during the past one month.

Brokers said investors in Tata Motors, including the domestic insurer, could be betting on the upcoming launch of JLR’s Range Rover products. Analysts said the current stock price has not factored in even a moderate success of the upcoming product launches.

(Contributed by Nishanth Vasudevan)