Tata Motors turns highly volatile after Q2 results

Tata Motors was down 1.07% to Rs 434 at 14:01 IST on BSE, with the stock witnessing high intraday volatility after announcing Q2 September 2017 results during market hours today, 9 November 2017.

Meanwhile, the S&P BSE Sensex was down 52.09 points or 0.16% at 33,166.72.

High volumes were witnessed on the counter. On the BSE, 22.94 lakh shares were traded on the counter so far as against the average daily volumes of 5.74 lakh shares in the past two weeks. The stock was volatile. Ahead of results announcement, the stock had surged as much as 2.86% at the day's high of Rs 451.25 so far during the day. The stock lost as much as 2.89% at the day's low of Rs 426 so far during the day.

Tata Motors' consolidated net profit jumped 195.04% to Rs 2502 crore on 10.34% growth in revenue (net of excise) to Rs 70156 crore in Q2 September 2017 over Q2 September 2016.

Guenter Butschek, MD & CEO, Tata Motors, said that after a challenging first quarter, Tata Motors has demonstrated impressive results with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer centric initiatives. With the company's turnaround plan in full action, it is seeing encouraging results and it will continue to drive sustainable profitable growth to meet its future aspirations, Butschek said.

Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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