Tata Motors' shares rose nearly 3% on Wednesday to hit a 52-week high of ₹589.30/piece driven by a strong growth outlook for its luxury arm Jaguar Land Rover (JLR) and the approval of an initial public offering for its subsidiary Tata Technologies. Global research and broking firm CLSA also raised Tata Motors' target price by nearly 8% to ₹690 apiece.