Tata Motors gains after securing an order for supply of electric buses

Tata Motors rose 1.67% to Rs 365.85 at 9:17 IST on BSE after the company said it has signed a contract to supply 25 Tata Starbus Diesel Series hybrid electric buses with the Mumbai Metropolitan Region Development Authority.

The announcement was made after trading hours yesterday, 16 March 2016.

Meanwhile, the S&P BSE Sensex was up 237.76 points or 0.96% at 24,920.24.

On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 8.05 lakh shares in the past two weeks. The stock hit a high of Rs 369.45 and a low of Rs 365 so far during the day. The stock had hit a 52-week high of Rs 573.15 on 6 April 2015. The stock had hit a 52-week low of Rs 266 on 11 February 2016.

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

The latest order is the single largest order awarded for hybrid electric vehicle technology, Tata Motors said.

On consolidated basis, Tata Motors' net profit fell 2% to Rs 3507.54 crore on 3.7% growth in net sales to Rs 71686.12 crore in Q3 December 2015 over Q3 December 2014.

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

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