Tata Motors shares rose 1.7% on February 17 because investors entertained the Announcement of ARM Jaguar Land Rover’s (JLR) Multi-year partnership with the largest graphical chip and artificial chip manufacturer (AI) in the world, Nvidia.

As per the statement by Nvidia, the company has been tied with JLR to jointly develop and provide the next generation automatic drive system and service that supports AI for car makers customers.

“Starting in 2025, all new JLR vehicles will be built on the NVIDIA Drive-Drive ™ platform – provide a broad spectrum of active safety, automatic driving systems and parking and driver’s help system,” said a statement by Nvidia.

This step is expected to speed up the transition JLR to an electric car that is activated by autonomous software and driving.

In addition to the partnership with Nvidia, shares reacted positively to JP Morgan brokerage companies in the insurance coverage in scripts with ‘overweight’ rankings.

The brokerage company sets the RS 630 price target for stock, implying a rise of nearly 27 percent of the July 16 closing price. JP Morgan believes that Tata Motors is well on the track to meet its zero debt target in 2023-24 and has demonstrated a commitment to strengthen the Indian and JLR business structurally.

The brokerage company has also set a ‘Bull Case’ target for Rs 783 for stock. JP Morgan believes that stock can reach the target if Tata Motors sees the acceleration of electric vehicle demand in the home market.

Tata Motors has indicated that it will launch up to 10 electric car models for the next four to five years in the domestic market because it is seen to capture the main parts of the new market that develops in the midst of government encouragement for electrification of Indian car fleets.

At 9:30 a.m., Tata’s motor stock rose 1.7 percent at Rs 507.4 on the National Stock Exchange.