Tata Motors up 5% post JLR September sales

Thus far in October 2015, the stock outperformed the market by surging 24% compared to 3% rise in Sensex.

Tata Motors has rallied 5% to Rs 369 on the BSE after the company-owned Jaguar Land Rover (JLR) sold 47,634 units globally in September, up 3% compared to the same month last year.

A combined nearly 3.2 million shares changed hands on the counter on the BSE and NSE till 09:43 am.

“The all-new Jaguar XE and the all-new Discovery Sport continued to impress this month, retailing more than 13,000 vehicles in total," JLR Group Sales Operations Director Andy Goss said.

Sales in the UK, Europe and North America have shown impressive growth year-to-date despite a challenging macro-economic environment, particularly in China, he added.

On the outlook for the rest of the fiscal, the company said, "JLR remains confident about the future and in the second half of FY16 plans to continue to build on the successful launches of the Land Rover Discovery Sport, the Jaguar XE and the new Jaguar XF."

The company's plans to launch the new Range Rover Evoque and Jaguar XJ, followed by the recently unveiled Jaguar F-Pace in late Q4 FY16, it added.

Meanwhile, thus far in October 2015, the stock has outperformed the market by surging 24% from Rs 298 compared to 3% rise in the Sensex.