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      Tata Motors surges 4%

      MoM Team / Mumbai, Dec 08, 2016 02:13 PM IST

        Tata Motors surges 4%

        Tata Motors jumped 4 percent to Rs 463 at 14:05 IST on BSE after the company said that Jaguar Land Rover, the company's British luxury car making unit reported its best ever November retail sales.

        The announcement was made during market hours today, 8 December 2016.

        Meanwhile, the S&P BSE Sensex was up 453.01 points or 1.73 percent at 26,689.88.

        On the BSE, 6.28 lakh shares were traded on the counter so far as against the average daily volumes of 5.99 lakh shares in the past two weeks. The stock had hit a high of Rs 464.80 and a low of Rs 449 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

        The stock had underperformed the market over the past one month till 7 December 2016, falling 12.23 percent compared with the Sensex's 4.45 percent fall. The scrip had also underperformed the market in past one quarter, declining 24.24 percent as against the Sensex's 9.3 percent fall.

        The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

        Tata Motors said that Jaguar Land Rover (JLR) reported 2 percent rise in total sales to 47,588 vehicles in November 2016 over November 2015.

        Jaguar recorded its best November ever, with retail sales rising 83 percent to 14,613 vehicles in November 2016 over November 2015, driven by continuing strong sales of the new XF and the F-PACE. Calendar year-to-date sales for Jaguar were 132,381, up 75 percent year-on-year.

        Land Rover recorded November sales of 32,975 vehicles, down 14 percent over November 2015, as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport were offset by lower volumes of the discontinued Land Rover Defender and outgoing Discovery. Calendar year-to-date sales for Land Rover reached 395,556 vehicles, 9 percent up on the prior year.

        Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7 percent to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

        Tata Motors is a market leader in commercial vehicles in India. The company's British unit JLR sells premium luxury cars.

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      Source: Capital Market

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