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Tata Motors picks up momentum after good global wholesales in August

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rose 1.3% to Rs 392.25 at 9:20 on after the company said that group global wholesales including Jaguar Land Rover, rose 9% at 94,210 units in August 2017 over August 2016.

The announcement was made after market hours yesterday, 12 September 2017.

Meanwhile, the S&P Sensex was up 24.93 points or 0.08% at 32,183.59.

On the BSE, 46,522 shares were traded on the counter so far as against the average daily volumes of 18.99 lakh shares in the past one quarter. The stock had hit a high of Rs 393.65 and a low of Rs 390.30 so far during the day. The stock had hit a 52-week high of Rs 571.05 on 10 October 2016 and a 52-week low of Rs 357.95 on 11 August 2017.

The stock had outperformed the market over the past one month till 12 September 2017, gaining 3.42% compared with the Sensex's 3.03% gains. The stock had, however, underperformed the market over the past one quarter, declining 15.18% as against the Sensex's 3.42% rise. The scrip had also underperformed the market over the past one year, sliding 30.13% as against the Sensex's 13.42% rise.

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

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 17% at 35,352 units in August 2017 over August 2016. Global wholesales of all passenger vehicles rose 5% at 58,858 units in August 2017 over August 2016.

Global wholesales for (JLR) were 44,420 vehicles (JLR number for August 17 includes CJLR volumes of 7,026 units). Jaguar wholesales for the month were 10,978 vehicles, while Land Rover wholesales for the month were 33,442 vehicles. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Tata Motors' consolidated net profit rose 41.6% to Rs 3199.93 crore on 10% decline in net sales to Rs 58493.37 crore in Q1 June 2017 over Q1 June 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: Wed, September 13 2017. 09:26 IST
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