Tata Motors shares advanced over 10% in intraday trade on Wednesday after the company showcased a line-up of 26 new products -- 14 commercial and 12 passengers -- at the Auto Expo 2020.
At 3pm, Tata Motors shares were trading at Rs 183, up 10.4%, after hitting the day’s high of Rs 183.30. With today’s rise, the stock has recovered all its losses seen on the Budget day session.
On Wednesday, Tata Motors unveiled its new micro-SUV concept car HBX at the Auto Expo, which is the company’s second model to get the new ALFA design platform after the recently launched Altroz premium hatchback. The company’s managing director Guenter Butschek was quoted as saying that the HBX will open up a new category of vehicles in the Indian market.
The company also brought back its Sierra brand of SUVs by showcasing its Sierra concept electric vehicle, which is again built on the ALFA platform.
Tata Motors also launched the BS-VI emission norm compliant Harrier 2020, which now gets a six-speed automatic transmission along with several other cosmetic features such as panoramic sunroof, auto-dimming IRVM and power-adjusted driver seat. The bookings for the new Harrier, which has been launched at an introductory price of Rs 13.69 lakh (ex-showroom), are now open and the SUV would be available at the dealerships from later this month.
The Gravitas was also unveiled at the Auto Expo, which is seen as Safari’s successor. The Gravitas is essentially a bigger Harrier with seven-seats as it carries the same engine as the Harrier but gets a size upgrade from all sides.
Other than that, Tata Motors unveiled its range of BS-VI compliant passenger vehicles -- Tiago, Tigor, Altroz and Nexon – along with two new commercial vehicles -- Tata Prima truck and BS-VI Tata Winger.
A Safari edition of Hexa was also showcased, which comes with a matte army green paint with more rugged styling features.