Tata Motors hits 52-week high after large bulk deal

Tata Motors rose 0.6% to Rs 465.85 at 10:35 IST on BSE after a bulk deal of 29.40 lakh shares was executed on the scrip at Rs 466.45 per share at 09:43 IST on BSE today, 8 June 2016.

Meanwhile, the S&P BSE Sensex was up 18.61 points or 0.07% at 27,028.28

Bulk deal boosted volume on the scrip. On BSE, so far 31.21 lakh shares were traded in the counter as against average daily volume of 7.01 lakh shares in the past one quarter. The stock hit a high of Rs 468.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 464.35 so far during the day. 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 7 June 2016, rising 16.14% compared with 7.06% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 34.78% as against Sensex's 9.59% gains.

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

Shares of Tata Motors rose 0.5% to settle at Rs 463.05 yesterday, 7 June 2016 after the company's British luxury car unit Jaguar Land Rover reported an 18% increase in sales at 44,946 units in May 2016 over May 2015. The all-new Jaguar F-PACE helped propel Jaguar Land Rover (JLR) to its best ever sales in May. The announcement was made during market hours yesterday, 7 June 2016.

Tata Motors' consolidated net profit jumped 201.6% to Rs 5177.06 crore on 19.9% growth in total income to Rs 81559.75 crore in Q4 March 2016 over Q4 March 2015.

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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