Tata Motors extends gains on good JLR sales

Tata Motors rose 2.35% to Rs 457.25 at 15:11 IST on BSE, with the stock extending Monday's gains triggered by the company's British luxury unit Jaguar Land Rover reporting good sales growth in June 2017.

Meanwhile, the S&P BSE Sensex was up 45.06 points or 0.14% at 31,760.70.

On the BSE, 12.04 lakh shares were traded on the counter so far as against the average daily volumes of 19.25 lakh shares in the past one quarter. The stock had hit a high of Rs 462.25 and a low of Rs 451.25 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 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 10 July 2017, sliding 4.38% compared with the Sensex's 1.45% rise. The stock had also underperformed the market over the past one quarter, declining 5.96% as against the Sensex's 7.24% rise. The scrip had also underperformed the market over the past one year, sliding 3.97% as against the Sensex's 16.92% rise.

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

Shares of Tata Motors have gained 4.68% in two trading sessions from its closing of Rs 436.80 on 7 July 2017, after the company announced after trading hours on 7 July 2017 that Jaguar Land Rover (JLR) reported a 11% growth in sales at 51,591 units in June 2017 over June 2016, driven by healthy China market. Shares of Tata Motors advanced 2.28% to settle at Rs 446.75 yesterday, 10 July 2017.

Jaguar sales grew by 16.4% to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9% to 36,248 units in June 2017 over June 2016.

On a consolidated basis, net profit of Tata Motors declined 16.8% to Rs 4336.43 crore on 2.9% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 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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