India's Tata Technologies rises on joint venture with BMW

Tata Technologies

02/04/2024 05:46

** India's Tata Technologies  TATE.NS  up 4.7% to 1,100
rupees 
    ** The engineering and technology services provider said on
Tuesday that it will form a joint venture for software
development with Germany's BMW Group  BMWG.DE  
    ** TATE, however, did not disclose any financial details of
the agreement
    ** Tata Technologies and the BMW Group will each hold a 50%
stake in the newly-formed company, co added
    ** Stock on track for second consecutive session of gains,
if trend holds
    ** More than 1.4 mln shares change hands by 10:13 a.m. IST,
1.3x the 30-day avg
    ** Average rating of six analysts covering TATE is "hold",
their median PT is 975 rupees - LSEG data
    


    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))