Tata Motors inches up after decent JLR sales

Tata Motors rose 0.33% to Rs 518 at 9:17 IST on BSE after the company's British luxury car unit Jaguar Land Rover delivered a positive sales performance in August 2014.

Meanwhile, the BSE Sensex was up 53.21 points, or 0.20%, to 27,110.62.

On BSE, so far 35,000 shares were traded in the counter, compared with an average volume of 4.42 lakh shares in the past one quarter.

The stock hit a high of Rs 519.95 and a low of Rs 515.35 so far during the day. The stock hit a record high of Rs 531 on 28 August 2014. The stock hit a 52-week low of Rs 325 on 16 September 2013.

The stock had underperformed the market over the past one month till 10 September 2014, rising 19.24% compared with 6.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.15% as against Sensex's 5.76% rise.

The large-cap company has an equity capital of Rs 547.34 crore. Face value per share is Rs 2.

Tata Motors-owned Jaguar Land Rover (JLR), the UK's leading manufacturer of premium luxury vehicles, on Wednesday, 10 September 2014, reported 9% increase in sales to 30,249 vehicles in August 2014 over August 2013.

Jaguar sales in the month of August retailed 5,074. Calendar year-to-date sales were up 11% year-on-year, retailing 54,730 vehicles. Land Rover continues to strengthen its position, selling 25,175 vehicles in August 2014, with strong performances across the range. Calendar year-to-date sales reached 250,124 vehicles, up 13% year-on-year.

Commenting on the August performance Andy Goss, JLR Group Sales Operations Director said: "Jaguar Land Rover sales momentum continues with sustained overall growth year-to-date. This last week has been particularly memorable with the premiere of two advanced products that really strengthen our brand portfolio and will attract many new customers - the Discovery Sport for Land Rover and the Jaguar XE."

Tata Motors reported 212.7% jump in consolidated net profit to Rs 5398.21 crore on 37.2% growth in net sales to Rs 64150.74 crore in Q1 June 2014 over Q1 June 2013.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 232834 crore ($38.9 billion) in 2013-14. It is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fifth largest truck manufacturer and fourth largest bus manufacturer.

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