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Tata Motors advances on reports of mulling IPO for JLR

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rose 2.17% to Rs 462.10 at 11:01 on on media reports that Tata Group may be considering listing its luxury carmaker through an initial public offer.

Meanwhile, the S&P Sensex was up 37.04 points or 0.12% at 31,348.61.

On the BSE, 2.09 lakh shares were traded on the counter so far as against the average daily volumes of 5.29 lakh shares in the past one quarter. The stock had hit a high of Rs 464.85 and a low of Rs 455.50 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 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 19 June 2017, advancing 2.11% compared with the Sensex's 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 5.05% as against the Sensex's 5.61% rise. The scrip had also underperformed the market over the past one year, sliding 2.35% as against the Sensex's 17.6% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

According to reports, senior executives of Tata Group have held preliminary internal discussions over listing of the British luxury automobile company (JLR) over an international stock exchange, which may potentially include New York Stock Exchange or London Stock Exchange.

had bought an ailing JLR in a surprise move in 2008 for $2.4 billion from Ford Motor Co.

On a consolidated basis, net profit of declined 16.79% to Rs 4336.43 crore on 2.88% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 11:03 IST