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Tata Motors picks momentum on strong sales in Nov

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gained 1.72% to Rs 406 at 9:25 on after the company reported strong sales in November.

The announcement was made after market hours on Friday, 1 December 2017.

Meanwhile, the S&P Sensex was down 39.27 points or 0.12% at 32,793.67.

On the BSE, 74,542 shares were traded on the counter so far as against average daily volumes of 13.34 lakh shares in the past one quarter. The stock had hit a high of Rs 408 and a low of Rs 403.45 so far during the day. The stock had hit a 52-week high of Rs 553 on 27 January 2017 and a 52-week low of Rs 357.95 on 11 August 2017.

The stock had fallen 6.8% in seven sessions to Rs 399.15 on 1 December 2017, from a close of Rs 428.25 on 22 November 2017.

The stock had underperformed the market over the past one month till 1 December 2017, falling 8.61% compared with the Sensex's 2.28% decline. The stock had also underperformed the market over the past one quarter, advancing 2.16% as against the Sensex's 2.95% rise. The scrip had also underperformed the market over the past one year, sliding 10.93% as against the Sensex's 23.62% rise.

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

said that its commercial and passenger vehicles sales in domestic market grew by 58% to 52,464 units in November 2017 over November 2016, due to growing demand across segments, introduction of new products and strong customer initiatives.

Tata Motors' commercial vehicles sales in domestic market in November 2017 were at 35,307 units, a growth of 72% compared to 20,538 units in November 2016. The commercial sector has bounced back strongly after the initial disruption in the market, surrounding demonetization and the BS4 transition that largely affected the transport industry last year. Consumption driven sectors have shown an uptick in sales, since July 2017 and continue even after the festival season. The increased demand for vehicles across segments and production ramp-up of the new range of BS4 vehicles has given a strong boost to the overall sales growth.

The medium and heavy commercial vehicles (M&HCV) trucks segment was at 12,851 units, higher by a strong 88%, over last year led by the sustained increase in production as well as the strong customer acceptance of the superior range of Tata Motors' BS4 vehicles. The sales growth was also driven by the success of Tata Motors' innovative SCR technology, which has been well accepted by customers. Increased demand for the new tonnage vehicles, infrastructure development led by government funding and keen focus on customer requirements has helped reviving the M&HCV performance.

The intermediate & light commercial vehicles (I&LCV) truck segment at 3,984 units grew by 76% over last year driven by the performance of new product introductions and continued demand.

The pickup segment sales grew by 53%, over last year at 4,685 units as the recently launched Xenon Yodha continued to gain acceptance and volumes across markets.

In November 2017, passenger vehicles sales performance was at 17,157 units, growth of 35%, over last year. This was led by the strong growth momentum of new generation Tata cars. To meet the growing demand of its recently launched compact SUV, Tata Nexon, has ramped up its production and in November 2017, the company rolled out the 10,000th Nexon from its Ranjangaon facility.

During the above period, the company's sales from exports declined 12% to 4,927 units due to drop in volumes in key commercial vehicles international business markets such as Nepal and Sri Lanka.

Tata Motors' consolidated net profit jumped 195% to Rs 2501.67 crore on 11.3% rise in net sales to Rs 70690.65 crore in Q2 September 2017 over Q2 September 2016.

is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (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: Mon, December 04 2017. 09:30 IST