Last month, the IEA, which advises governments on energy policy, said oil prices were "scaling multi-year highs."

The Relative Strength Index of the stock stood at 58.93 on Tuesday.

The stock quoted a 52-week high price of Rs 606.0 and a 52-week low of Rs 362.05.

The Nikkei share average gained 0.11% to close at 29,808.12, after having gained as much as 0.6%. The broader Topix also edged up 0.11% to 2,050.83.

"Inflation worries appear to be overpowering the Australian share market despite a dovish projection on the interest rate from the central bank," said Kunal Sawhney, chief executive officer of Kalkine Group said.

“It could be more of a consolidation phase between 16,500 and 18,500 levels and maybe wait for one or two quarter earnings growth and roll forward to FY24. Global brokerage houses lowering Indian exposure and shifting money to the China market has more to do with China’s underperformance over the last 12 months.”

Tata Motors has advanced 184% this year as investors bet that its trimmed down costs, new model offerings and improved leverage ratios will boost shares.

The defence sub-index dropped 3.9% amid easing tensions between U.S. and China in the meeting.

Promoters held 54.92 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 17.83 per cent and 0.13 per cent, respectively.

“Internationally, we are present in 40 countries. We have a long runway for expansion in 80-100 countries in the future and also to build our ODM business more strongly.”