Tata Motors gains on better than expected JLR sales figures

The stock gained nearly 5% as the JLR retail volumes grew by 16% in March

Tata Motors surged nearly 5% in the morning trades on the back of higher than expected sales of Jaguar Land Rover.

Yesterday, JLR said their retail volumes grew by 16% in March.

"Jaguar Land Rover is seeing continued year on year growth following the introduction of new models, engines and drive- trains with the Jaguar XF Sportbrake, new Range Rover and Range Rover Evoque amongst our top selling models," JLR Group Sales Operations Director Phil Popham said in a statement.

In the UK, JLR sales were up 14% at 17,784 units in March, while China delivered its best-ever month retailing 8,487 units collectively, a growth of 22%.

The stock opened at Rs 277.50 and touched a high of Rs 281.15 thus far on the BSE. A combined little over 54 lakh shares changed hands on the BSE and NSE.