Tata Motors gains after reporting decent growth in September sales

Tata Motors rose 1.54% to Rs 543 at 9:22 IST on BSE after the company said that Tata Motors passenger and commercial vehicle sales rose 8% to 48,648 units in September 2016 over September 2015.

The company announced the monthly sales volume data on Saturday, 1 October 2016.

Meanwhile, the S&P BSE Sensex was up 98.33 points or 0.35% at 27,964.29.

On BSE, so far 41,000 shares were traded in the counter as against average daily volume of 8.70 lakh shares in the past one quarter. The stock hit a high of Rs 544.95 and a low of Rs 539.65 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 30 September 2016, advancing 1.22% compared with 1.68% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.44% as against Sensex's 3.21% rise.

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

The company's domestic sales of Tata commercial and passenger vehicles rose 5% to 42,961 units in September 2016 over September 2015. Exports surged 29% to 5,687 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 Jaguar Land Rover (JLR) sells premium luxury cars.

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