Tata Motors gains on increasing JLR's production

Tata Motors has advanced 1% or Rs 7.5 to Rs 776 on the Bombay Stock Exchange on the back of reports that the company is planning to increase production of its luxury car brand Jaguar Land Rover (JLR).

The company said that in order to escape high custom duty on its products imported from the United Kingdom, it plans to manufacture more vehicles locally.

The stock opened at Rs 774 and touched a high of Rs 779 thus far. As many as 96,000 shares have changed hands on the counter this morning compared to its two-week average of 4,89,000 shares.