Shares of Tata Motors hit an over three-year high of Rs 415.30 as they rallied 8.5 per cent on the BSE in Monday’s intra-day trade, continuing their journey northward on the back of a strong growth outlook for Jaguar Land Rover products.The Tata group subsidiary's scrip has rallied around 21% in the past five sessions, whereas in a month, it has risen about 39%. The company, however, warned that retail sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the impact of the global semiconductor shortage.Tata Motors is in the advanced stages to raise $1 billion through the stock sale of its electric vehicle unit, the Times of India reported on Friday. "The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through.
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