Tata Motors accelerates after strong JLR sales in December

Tata Motors rose 2.87% to Rs 500.45 at 11:42 IST on BSE after the company's British luxury unit Jaguar Land Rover reported a 30% jump in retail sales in US in December 2016.

Meanwhile, the S&P BSE Sensex was up 220.87 points or 0.83% at 26,854.

On the BSE, 3.03 lakh shares were traded on the counter so far as against the average daily volumes of 5.40 lakh shares in the past one quarter. The stock had hit a high of Rs 502.80 and a low of Rs 495 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016. It had outperformed the market over the past one month till 4 January 2017, surging 12.34% compared with the Sensex's 1.53% rise. The scrip had, however, underperformed the market in past one quarter, declining 11.44% as against the Sensex's 6% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Jaguar Land Rover (JLR) yesterday, 4 January 2017, announced its US retail sales for the month of December 2016. JLR's US sales rose 30% to 12,573 units in December 2016 over December 2015. Jaguar sales jumped 259% to 4,294 units in December 2016 over December 2015. Land Rover sales declined 2% to 8,279 units in December 2016 over December 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

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

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