• Source:JND
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Tata Motors Share Price: Tata Motors' share price zoomed over 5% during the early trade on Tuesday after US President Donald Trump hinted that he might exempt the auto industry from the higher tariff temporarily. The US president Monday that the time would give car and auto components makers time to adjust their supply chains.

At around 10:29 am, Tata Motors shares were trading at Rs 622.75, surging 4.66% on NSE. After starting trading at Rs 614.0, up over Rs 15 against the previous day's closing price of Rs 595.05 on NSE, the automobile stock soared to hit an intraday high at Rs 628.30 per share (till the above-mentioned time). Meanwhile, 52-week high and low values stood at Rs 1,179 and Rs 535.75 respectively.

Automobile Stocks Zoom Up To 10%

Not only Tata Motors but shares of auto manufacturers and auto component companies like Samvardhana Motherson, and Sona BLW were also advanced in early trade. Sona BLW Precision Forgings zoomed nearly 7.88% to Rs 464 on the NSE in the opening hour, while Samvardhana Motherson soared 10% to Rs 130.05 on the NSE. Bharat Forge's share price jumped over 5% while Mahindra and Mahindra were up 3.65%.

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The NIFTY AUTO index was trading over 3% higher in early trade, with all the 15 participants doing business in positive territory. The index had an intraday high of 21,190.85 at the time of writing.

Trump Announced Tariff On Automobile Products

Earlier, Donald Trump announced a 25% tariff on all imported vehicles entering the US, a move he described as a “massive boost” to domestic manufacturing. The tariffs, which will take effect on April 2, will temporarily affect half of all vehicles sold in the US, including US brands assembled abroad.

The sweeping move is aimed at encouraging carmakers to set up more manufacturing facilities within the US borders.

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Disclaimer: This story is just an update on recent developments in the stocks. Jagran does not advise investing, leade take an expert's opinion before investing.