Tata Motors, India's largest automobile company and leader in commercial vehicles across segments has announced that effective August 3, it will increase prices of its passenger vehicles, on an average of 0.8%, depending on the variant and model.

Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Tata Motors' New Forever range, the company will offer protection from the price increase to vehicles that will be retailed on or before Aug.31, 2021.

For the wellbeing of its business and supporting ecosystem, Tata Motors had recently announced that it has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers.

Shares of the company gained Rs 2.85, or 0.97%, to settle at  Rs 296.80.  The total volume of shares traded  was  884,650 at the BSE (Monday).