Tata Motors gains on renewed buying

Tata Motors rose 3.92% to Rs 377.50 at 14:38 IST on BSE, with the stock advancing on renewed buying after yesterday's decline.

Meanwhile, the S&P BSE Sensex was up 64.73 points or 0.26% at 25,031.13.

On BSE, so far 4.33 lakh shares were traded in the counter as against average daily volume of 8.72 lakh shares in the past one quarter. The stock hit a high of Rs 378.25 and a low of Rs 363.20 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 stock had outperformed the market over the past one month till 28 March 2016, surging 20.2% compared with the Sensex's 7.83% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.63% as against Sensex's 4.1% fall.

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

Shares of Tata Motors declined 3.63% to settle at Rs 363.25 yesterday, 28 March 2016 in a weak market. Tata Motors in a press release dated 27 March 2016 said it has secured a follow-on order for supply of 619 units of the Tata 6X6 high-mobility, multi-axle vehicle, with material handling cranes, based on an earlier order received by the company in 2015, for supply of 1,239 units of vehicles.

Tata Motors had announced last week that workmen at its Sanand plant in Gujarat called off the strike and resumed duty from 23 March 2016 and normalcy had been restored. Sanand is one of company's six plants in India and manufactures Nano and new hatchback car Tiago.

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.

Powered by Capital Market - Live News