Tata Motors which had closed on Wednesday at Rs.400.45, hit a new 52-week high today at Rs.416.05 and currently continues to trade in the green around the same levels.

The stock hit a high after the Industry Minister of Saudi Arabia stated that the Indian auto company was exploring options of setting up a manufacturing plant for JLR in the Kingdom.  This new project is currently undergoing a feasibility study though size of the investment and that of the proposed plant is not yet known. Its new unit in China is expected to go on stream in 2014.