Tata Motors gains after good JLR sales in September

Tata Motors rose 0.36% to Rs 553.25 at 10:04 IST on BSE after the company said Jaguar Land Rover retail sales rose 28% to 61,047 units in September 2016 over September 2015.

The announcement was made during trading hours today, 7 October 2016.

Meanwhile, the BSE Sensex was down 33.09 points, or 0.12%, to 28,073.12.

On BSE, so far 59,000 shares were traded in the counter, compared with average daily volume of 8.57 lakh shares in the past one quarter. The stock hit a high of Rs 558.35 and a low of Rs 552.85 so far during the day. The stock hit a 52-week high of Rs 598.60 on 7 September 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past 30 days till 6 October 2016, falling 6.20% compared with 2.84% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.50% as against Sensex's 3.61% rise.

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

Tata Motors said September's performance has been driven by strong sales of the Land Rover Discovery, Discovery Sport, the Range Rover Evoque and the Jaguar F-PACE, as well as solid sales in China. Jaguar Land Rover (JLR) delivered solid retail sales growth across all key regions year on year, with China up 50%, Europe up 32%, UK up 30%, North America up 23% and other overseas markets up 3%.

Jaguar retail sales rose 70% to 17,640 units in September 2016 over September 2015. Land Rover retail sales rose 17% to 43,407 units in September 2016 over September 2015.

Tata Motors' consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 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