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Tata Motors Shares Hit New High

Tata shares rose to a new 52-week high Wednesday.



) --

Tata Motor's

(TTM) - Get Report

U.S.-listed shares reached a new year high Wednesday as investors continued to show enthusiasm for India's largest automaker.

Tata shares closed Wednesday's regular session at $16.13, up 2.7%, after earlier touching $16.14, a new 52-week high.

The company has been sounding optimistic tones of late. Earlier this week, the company said it expects to expand its market share in utility-vehicle space by 3% with the introduction of its Grande MKII utility vehicle, according to the

Economic Times

of India. The MKII could raise Tata's utility-vehicle sales by about 30%,

Dow Jones Newswires

reported recently.

India's largest automaker predicted further expansion of its share of the utility-vehicle market.

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The utility segment currently makes up 17% to 18% of the entire car market in India, according to the media.

Also, the company expects to be able to deliver 100,000 Nano cars, dubbed the peoples car for its affordability, to customers by the end of next year.

Among other automaker shares,



is was up 0.2% to $17.


(TM) - Get Report

inched 0.2% higher to $83.50, and


(HMC) - Get Report

gained 0.6% to $34.

-- Reported by Andrea Tse in New York