Tata Motors gains after good global wholesales in March

Tata Motors rose 0.8% to Rs 358.25 at 09:35 IST on BSE after the Tata Motors Group global wholesales rose 18% to 153,156 units in March 2018 over March 2017.

The announcement was made after market hours yesterday, 11 April 2018.

Meanwhile, the S&P BSE Sensex was up 52.84 points, or 0.16% to 33,993.28

On the BSE, 71,000 shares were traded in the counter so far compared with average daily volumes of 8.38 lakh shares in the past two weeks. The stock had hit a high of Rs 359.30 and a low of Rs 357.10 so far during the day. The stock hit a 52-week high of Rs 487 on 26 May 2017. The stock hit a 52-week low of Rs 324.50 on 26 March 2018.

Tata Motors Group global wholesales, including Jaguar Land Rover (JLR), rose 18% to 153,156 units in March 2018 over March 2017. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 33% to 56,399 units in March 2018 over March 2017. Global wholesales of all passenger vehicles rose 11% to 96,757 units in March 2018 over March 2017.

Global wholesales for JLR were 76,221 vehicles in March 2018 (including CJLR volumes of 7,126 units). Jaguar wholesales for the month were 21,048 vehicles, while Land Rover wholesales for the month were 55,173 vehicles. CJLR a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Tata Motors' consolidated net profit surged 988.64% to Rs 1214.60 crore on 15.99% growth in net sales to Rs 74156.07 crore in Q3 December 2017 over Q3 December 2016.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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