Tata Motors has surged for the second straight day on the back of strong Q3 net and sales numbers.
The stock opened at Rs 729 and surged 8.2% to a high of Rs 770. It is now trading with a huge gain of 7.4% at Rs 764. Over 446,000 shares have been traded on the BSE so far, as against the two-week daily average trade of 577,000 shares.
The February sales of the company has grown by 58% to 69,427 units from 43,811 units sold in the same month in 2009.
Moreover, the company had posted a consolidated net profit of Rs 650 crore for the quarter ending December 31, 2009, as against a net loss of Rs 2,598 crore in the corresponding quarter a year ago. The turnaround was driven by revival in demand in the domestic market on introduction of new products coupled with government stimulus.
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