Tata Motors spurts after Brexit deal

Tata Motors surged 13.35% to end at Rs 142.6 after a draft Brexit deal was agreed on Thursday between the U.K. and the European Union.

European Commission President Jean-Claude Juncker said the deal was a "fair and balanced" one. British Prime Minister Boris Johnson now goes to Brussels for a two-day summit with EU leaders. Any prospective deal will need approval from the 27 European leaders who meet on Thursday, before requiring ratification from the British parliament.

Jaguar Land Rover Automotive Plc (JLR) is Britain's largest automobile manufacturer, housing two iconic British brands under the Tata group. As per the company's 74th Annual Report 2018-19, JLR contributes 74% to the Tata Motors Group revenue.

Meanwhile, the S&P BSE Sensex was up 453 points or 1.17% to 39052.06.

On the BSE, 42.90 lakh shares were traded in the counter so far compared with average daily volumes of 26.81 lakh shares in the past two weeks. The stock hit a high of Rs 143.8 and a low of Rs 125.15 so far during the day.

The stock hit a 52-week high of Rs 239.3 on 18 Apr 2019. The stock hit a 52-week low of Rs 106 on 04 Sep 2019.

On a consolidated basis, the auto maker had reported a net loss of Rs 3604.30 crore in Q1 June 2019 over a net loss of Rs 1902.37 crore in Q1 June 2018. Net sales fell 7.8% to Rs 60830.16 crore in Q1 June 2019 over Q1 June 2018.

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

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