Tata Motors gains after decent June sales

Tata Motors rose 2.81% to Rs 470.70 at 9:26 IST on BSE after the company said that its total passenger and commercial sales (including exports) rose 8% to 44,276 vehicles in June 2016 over June 2015.

The announcement was made after market hours on Friday, 1 July 2016.

Meanwhile, the BSE Sensex was up 181.95 points, or 0.67%, to 27,326.86.

On BSE, so far 84,000 shares were traded in the counter, compared with an average daily volume of 8.15 lakh shares in the past one quarter. The stock hit a high of Rs 471 and a low of Rs 467.90 so far during the day. The stock hit a 52-week high of Rs 489.60 on 23 June 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past one month till 1 July 2016, rising 1.04% compared with 1.12% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.64% as against Sensex's 7.42% rise.

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

Tata Motors' domestic sales of Tata commercial and passenger vehicles rose 8% to 38,673 units in June 2016 over June 2015. Passenger vehicles sales in the domestic market grew 22% to 12,509 units in June 2016 over June 2015. Sales of passenger cars rose by 37% to 11,705 units in June 2016 over June 2015, as Tata Motors hatchback sales grew by over a 100% at 7,126 units in June 2016, due to strong demand for the recently launched Tiago.

Sales of Tata Motors Light Commercial Vehicles (LCVs) rose 14% to 16,017 units in June 2016 over June 2015. Medium & Heavy Commercial Vehicles (M&HCV) sales fell 11% to 10,147 units in June 2016 over June 2015. The overall commercial vehicles sales in the domestic market rose 2% to 26,164 units in June 2016 over June 2015. The company's sales from exports rose 11% to 5,603 units in June 2016 over June 2015.

Tata Motors' consolidated net profit jumped 201.6% to Rs 5177.06 crore on 18.8% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015.

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

Powered by Capital Market - Live News