Tata Motors gains on better than expected Q4 numbers

Stock up 3.5% at Rs 315

Tata Motors raced up 3.5% at Rs 315 in the opening trades as the company pruned losses at the stand-alone level, thanks to the strong performance by Jaguar Land Rover (JLR).

Its consolidated profit for the quarter ended March 31, stood at Rs 3,945 crore against Rs 6,234 crore posted in the same quarter a year earlier, a drop of 37%. Analysts had estimated a net profit of about Rs 3,000 crore for the reporting quarter.

The stock opened at Rs 315 which is also the high in the trades thus far.

A combined total of 2.5 lakh shares changed hands on the BSE and NSE.