Tata Motors, India’s largest auto manufacturer, has seen its stock price hit a new all time high, as it tries to increase its profits and improve its image.
The stock, which rose 1.9% to $10.60 in New Delhi today, rose by 1.5% in London, according to data provider FactSet.
The Tata Motors group, which manufactures Tata, Opel and Tata Nano electric vehicles, is India’s third largest automaker after Tata Steel and Hindustan Unilever.
Tata Motors, which is owned by Tata group’s chairman, N Chandrasekhar Reddy, is currently struggling to meet the high sales and profit expectations of its chief executive officer and chairman.
Shares in Tata Motors rose 9.6% in the fourth quarter of 2016, a year before the global financial crisis, when Tata Motors went into a buying spree in the global auto industry.
Investors are wary of Tata Motors’ growth prospects, particularly given its financial woes.
The company reported a $1.9 billion loss in the 2016 fiscal year, but its share price rose after its earnings rose.
Tajikistan-based Tata Motors is a $20 billion-a-year multinational automotive maker.