Tata Motors hits record high on plan to split into two listed firms

BENGALURU, March 5 (Reuters): Shares of Tata Motors, opens new tab, India's most valuable carmaker, hit a record high on Tuesday, a day after the company said, opens new tab it will split into two listed firms, separating its commercial vehicle business from its passenger vehicle arm.
The stock, currently up 4.6 per cent, is leading gains on the Nifty Auto, opens new tab index, which is up 1.4 per cent. The stock rose as much 7.9 per cent to hit its all-time high of 1,065.6 rupees.
The carmaker is also the top gainer on the blue-chip Nifty 50 index, opens new tab, which is down 0.3 per cent on the day.