Tata Power is in a partnership with Tata Motors to develop electric vehicle charging infrastructureTata group company shares are in the limelight on Wednesday afternoon, with Tata Motors, Tata Power and Tata Chemicals surging 15-20 per cent each to 52-week highs, after Tata Motors announced plans to raise Rs 7,500 crore for its electric vehicle business from private equity firm TPG. The first round of capital infusion will be completed by March 22 and the entire funds will be infused by end of 2022, Tata Motors had said on Tuesday.Tata Motors has touched a 52-week high of Rs 519 in today’s session and with today’s rally, Tata Motors shares have soared around 50 per cent in a matter of 5 sessions. Tata Motors’ shares had surged around 30 per cent in the previous four trading sessions on the back of robust global wholesale numbers and record order book for Jaguar land Rover.Wholesales of all passenger vehicles in the second quarter of current fiscal jumped 11 per cent annually to 1,62,634 units and Jaguar Land Rover clocked global wholesales of 78,251 vehicles, including CJLR volumes of 14,219 units.The auto major has been a multi-bagger on the bourses, with its shares jumping around eight times from the lockdown lows of Rs 63.60 on March 24, 2020.According to analysts, the Tata Motors-TPG deal will unlock value for Tata Motors’ electric vehicle business and transform it into a major player in the EV space.Tata Power shares have also powered ahead to a life-time high of Rs 232.40, in unison with Tata Motors, as the Tata Group’s power utility is in a partnership with Tata Motors to develop electric vehicle charging infrastructure. Moreover, Tata Power’s wholly-owned subsidiary Tata Power Solar Systems recently bagged Rs 538 crore contracts to build 100 MW of distributed ground mounted solar projects for EESL.Tata Chemicals has also clocked fresh 52-week high of Rs 1,144 as the company is expected to bring in the battery technology to power the EV business. Tata Chemicals is the technical partner for evaluating Lithium-ion cell manufacturing technology and helping in the development of such manufacturing.Among other Tata group shares, Nelco, Tata Coffee, Rallis India, Tata Communications, Tata Consumer Products, Titan Company, Tata Metaliks, Tata Steel and India Hotels have rallied 3-5 per cent each on the BSE.
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