Tata Motors shares gain over 3%; mcap rises by Rs 2,829 cr

Shares of Tata Motors today rose by over 3 per cent after the company-owned Jaguar Land Rover (JLR) reported 6.1 per cent increase in global sales in May.

The stock went up 3.32 per cent to close at Rs 305.30 on BSE. During the day, it jumped 3.70 per cent to Rs 306.45.

At NSE, shares of the company gained 3 per cent to end at Rs 304.75.

The company's market valuation rose by Rs 2,829.76 crore to Rs 88,150.76 crore.

In terms of equity volume, 13.63 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

JLR today reported 6.1 per cent increase in global sales at 48,281 units in May, driven by introduction of new models including the Range Rover Velar across markets.

Sales of Jaguar brand of vehicles in May were at 14,507 units, an increase of 6.6 per cent over May 2017, the company said in a statement.

Land Rover range posted sales of 33,774 units in the month, up 6 per cent, it added.