Tata Motors accelerates after good global wholesales in Nov

Tata Motors gained 2.09% to Rs 410.55 at 14:00 IST on BSE after the company said that the Tata Motors Group global wholesales, including Jaguar Land Rover, rose 22% at 1,12,473 units in November 2017 over November 2016.

The announcement was made during market hours today, 8 December 2017.

Meanwhile, the S&P BSE Sensex was up 304.08 points or 0.92% at 33,253.29.

More than usual volumes were witnessed on the counter. On the BSE, 18.74 lakh shares were traded on the counter so far as against average daily volumes of 13.39 lakh shares in the past one quarter. The stock had hit a high of Rs 412.90 and a low of Rs 406.50 so far during the day. The stock had hit a 52-week high of Rs 553 on 27 January 2017 and a 52-week low of Rs 357.95 on 11 August 2017.

The stock had underperformed the market over the past one month till 7 December 2017, falling 11.01% compared with the Sensex's 1.26% drop. The stock had, however, outperformed the market over the past one quarter, gaining 6.14% as against the Sensex's 4.06% rise. The scrip had, however, underperformed the market over the past one year, dropping 9.68% as against the Sensex's 25.58% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range jumped 51% at 40,845 units in November 2017 over November 2016. Global wholesales of all passenger vehicles grew 10% at 71,628 units in November 2017 over November 2016.

Tata Motors' consolidated net profit jumped 195% to Rs 2501.67 crore on 11.3% rise in net sales to Rs 70690.65 crore in Q2 September 2017 over Q2 September 2016.

Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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