Tata Motors jumps on high volume

Tata Motors surged 7.86% at Rs 194.25 at 11:45 IST on BSE, with the upmove supported by high volume.

Meanwhile, the S&P BSE Sensex was 75.72 points, or 0.21% to 36,139.53

On the BSE, 30.47 lakh shares were traded in the counter so far compared with average daily volumes of 13.82 lakh shares in the past two weeks. The stock had hit a high of Rs 198 and hit a low of Rs 181.50 so far during the day.

Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market witnessed a drop of 3% at 57,221 units as against 58,993 units sold over last year as weak consumer sentiments continued in February 2019. The announcement was made after market hours on Friday, 1 March 2019. Stock markets were closed yesterday, 4 March 2019 for a local holiday.

With reference to media reports indicating Tata Motors is exploring options including JLR stake sale, the company said that there is no truth to the rumours that Tata Motors is looking to divest its stake in JLR and it would not like to comment further on any market speculation.

Tata Motors reported consolidated net loss of Rs 26992.54 crore in Q3 December 2018 as compared to net profit of Rs 1198.63 crore in Q3 December 2017. Total income rose 4.37% to Rs 77582.71 crore in Q3 December 2018 over Q3 December 2017.

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

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