Tata Motors shares surged over 3% early on Friday trading session after media reports surfaced suggesting that the Tata Group might be considering a potential spinoff of its battery business, Agratas Energy Storage Solutions. Tata Motors shares jumped to an intraday high of Rs 948.8, 3.06% higher than its previous closing price on the National Stock Exchange (NSE). At 1:55 pm, the stock was trading 2.13% higher at Rs 940.15. According to media reports, the Tata Group is in the early stages of discussions about a potential spinoff of its battery business, breaking out Agratas Energy Storage Solutions as an independent unit. Since the conglomerate plans to expand into the renewable energy and electric vehicle (EV) segments, such a structure would enable Agratas Energy to raise funds and go public later. People familiar with the matter said a potential listing could value Agratas between $5 and $10 billion, depending on its growth and market sentiment.