Sales Spurt Lifts Tata Engg

Shares of commercial vehicles manufacturer Tata Engineering & Locomotive Ltd surged 2.01 per cent to Rs 137.10 on the Bombay Stock Exchange (BSE) today, following an impressive 39 per cent rise in its vehicle sales.

The scrip registered a 11 per cent jump during the last two days, with up to 19 lakh shares changing hands by 10:02 IST today.

On Wednesday, the scrip moved up by 8.34 per cent to Rs 134.40 on volumes of 24.11 lakh shares. Tata Engineering announced after market hours on Wednesday that its domestic vehicle sales in January 2002 jumped 39 per cent from a year earlier.

The scrip has risen 41.7 per cent during the last 29 trading sessions, from Rs 94.85 on December 27, 2001. During the same period, the stock touched a high of Rs 136.45 and a low of Rs 93, with volumes ranging between 24.11 lakh and 81,787 shares.

The company's medium and heavy commercial vehicle sales surged by 17 per cent in January 2002 to 5,998 units