Tata Motors gains 4% on bourses

Shares of Tata Motors were trading higher by nearly 4% to Rs 579 on the National Stock Exchange (NSE) on expectations of a revival in the demand for commercial vehicles.

At 1038 hours, the stock was the largest gainer among the S&P BSE Sensex and CNX Nifty stocks.

The stock opened at Rs 564 and hit a low of Rs 562 so far. A combined 2.52 million shares changed hands on the counter on the NSE and BSE.

“Tata Motors expects about 10-15% growth in its commercial vehicles sales during next fiscal,” the PTI report suggests quoting the company’s Commercial Vehicles Executive Director Ravi Pisharody.

The company also hopes that even the light commercial vehicles would return to growth path after a prolonged sales slump, due to various measures taken in Budget to boost infrastructure development, added report. CLICK HERE TO READ FULL REPORT.

Meanwhile, the Economic Times report suggests that the country’s top commercial vehicle maker, has bagged orders for more than 4,000 buses from states transport authorities under the second phase of the union government's national urban renewal mission.