 "Tata Motors surges 7% on strong September domestic sales")
Tata Motors surged 7% to Rs 428 on BSE in early morning trade after the company reported a strong 25% increase in domestic sales at 53,965 units in September. The company had sold 43,031 units in September 2016. The stock recorded its sharpest intra-day gain since November 8, 2016, when it rose 6.9% in intra-day trade.
“This is at the back of growing festive demand across segments, increased positive customer sentiments, introduction of new products and strong customer engagement initiatives,” Tata Motors said in a statement.
Tata Motors overall commercial vehicles sales in September 2017, in the domestic market were at 36,679 units, higher by 29% over September 2016.
The sales grew on the back of strong ramp-up in production, growing demand for new product launches and higher customer uptick owing to peak festive season buying trends across segments. Additionally, the sales were boosted by strong growth in e-commerce segment sales and growing demand under Swachh Bharat drive, it added.
The company said its sales from exports was at 3887 units in September 2017, a decline of 27%, due to continued drop in TIV in Sri Lanka (by 54%) and Nepal (by 47%).
Meanwhile, according to PTI reports, Tata Motors will manufacture compact sedan Tigor with electric powertrain at its Sanand plant in Gujarat to meet Rs 1,120-crore order from state-run Energy Efficiency Services Ltd (EESL). CLICK HERE TO READ FULL REPORT.
“This is at the back of growing festive demand across segments, increased positive customer sentiments, introduction of new products and strong customer engagement initiatives,” Tata Motors said in a statement.
Tata Motors overall commercial vehicles sales in September 2017, in the domestic market were at 36,679 units, higher by 29% over September 2016.
The sales grew on the back of strong ramp-up in production, growing demand for new product launches and higher customer uptick owing to peak festive season buying trends across segments. Additionally, the sales were boosted by strong growth in e-commerce segment sales and growing demand under Swachh Bharat drive, it added.
The company said its sales from exports was at 3887 units in September 2017, a decline of 27%, due to continued drop in TIV in Sri Lanka (by 54%) and Nepal (by 47%).
Meanwhile, according to PTI reports, Tata Motors will manufacture compact sedan Tigor with electric powertrain at its Sanand plant in Gujarat to meet Rs 1,120-crore order from state-run Energy Efficiency Services Ltd (EESL). CLICK HERE TO READ FULL REPORT.
At 09:33 AM; the stock was up 5% at Rs 421 on BSE, as compared to 0.68% rise in the S&P BSE Sensex. A combined 2.9 million shares changed hands on the counter on the BSE and NSE so far.
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