Tata Motors shares jump 6%; mcap rises Rs 6,128 cr

Shares of Tata Motors today surged 6 per cent, adding Rs 6,128 crore to its market valuation, amid reports that the sales of Jaguar Land Rover (JLR) in the US rose in October.
The stock ended the day with a gain of 6.02 per cent at Rs 405.05 on BSE. During the day, it surged 6.58 per cent to Rs 407.20.
At NSE, shares of the company soared 5.96 per cent to Rs 404.85.
Led by the rally in the stock, the company's market valuation jumped by Rs 6,128.38 crore to Rs 1,16,433.38 crore.
The stock was the top gainer on both Sensex and Nifty indices.

In terms of volume, 12.74 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

"Shares of Tata Motors stood in action today and were seen up by more than 6.5 per cent intra-day after the company reported that its subsidiary Jaguar and Land Rover reported a 76 per cent growth in US Sales in October," said Achin Goel Head Wealth Management & Financial Planning Bonanza Portfolio.
According to reports, the subsidiary of Tata Motors sold 8,187 vehicles in the US in October, up 76.10 per cent from over 4,650 units sold a year-ago.

Tata Motors has reported 1 per cent growth in total sales at 43,486 vehicles for October 2015 compared with 42,862 units in the same month last year.
Its exports rose 13 per cent to 4,569 units last month from 4,059 vehicles in October 2014, the company said in a statement on Sunday.
The company will report its second quarter earnings on Friday.