Tata Motors surges after good JLR sales in April

Tata Motors rose 3.16% to Rs 342.60 at 11:39 IST on BSE after the company said that sales of its subsidiary Jaguar Land Rover rose 11.9% to 45,180 units in April 2018 over April 2017.

The announcement was made during trading hours today, 9 May 2018.

Meanwhile, the S&P BSE Sensex was up 40.73 points, or 0.12% to 35,257.05.

On the BSE, 5 lakh shares were traded in the counter so far compared with average daily volumes of 6.01 lakh shares in the past two weeks. The stock had hit a high of Rs 346.75 and a low of Rs 331.10 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.

Tata Motors said that sales of its subsidiary Jaguar Land Rover (JLR) rose 11.9% to 45,180 units in April 2018 over April 2017. Sales were primarily driven by the introduction of new models including the Range Rover Velar, Land Rover Discovery and the Jaguar E-PACE. Jaguar sales rose 8% to 13,289 units. Land Rover sales rose 13.6% to 31,891 units.

Retail sales for April were up significantly year-on-year in China (28.9%), the UK (25.9%), Overseas markets (21.3%} and North America (2.5%) but down in Europe (-10.2%), with continuing uncertainty over diesel in the UK and Europe.

Jaguar Land Rover is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium allwheel-drive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques.

Tata Motors' consolidated net profit surged 988.6% to Rs 1214.60 crore on 15.99% 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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