Tata Motors jumps after strong JLR India sales

Tata Motors rose 4.35% to Rs 358.30 at 14:19 IST on BSE on reports Jaguar Land Rover India reported strong sales in the year ended March 2018.

Meanwhile, the S&P BSE Sensex was down 309.76 points, or 0.93% to 33,060.87.

On the BSE, 12.56 lakh shares were traded in the counter so far compared with average daily volumes of 5.08 lakh shares in the past two weeks. The stock had hit a high of Rs 363.45 and a low of Rs 346.10 so far during the day. The stock hit a 52-week high of Rs 487 on 26 May 2017. The stock hit a 52-week low of Rs 324.50 on 26 March 2018.

According to media reports, Jaguar Land Rover (JLR) India reported 83.33% jump in total sales to 4,609 units in the year ended March 2018 over the year ended March 2017. JLR India plans to bring 10 new products in India in 2018-2019, reports added.

Tata Motors' consolidated net profit surged 988.6% to Rs 1214.60 crore on 16% growth in net sales to Rs 74156.07 crore in Q3 December 2017 over Q3 December 2016.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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