 "Tata Motors hits four and half month high")
Tata Motors has moved higher by 4% to Rs 417.75, its highest level since July 8, 2015 on the BSE.
The company owned Jaguar Land Rover (JLR) said that it is to double the size of its Engine Manufacturing Centre (EMC) as part of a £450 million expansion programme. JLR engine EMC in the UK supplies engines to the three vehicle plants of JLR located in the UK, Tata Motors said in a filing.
JLR said that the decision to expand the size of the EMC was driven by global demand for current and future car models of JLR.
Meanwhile, the stock has appreciated by 50% from its 52-week low of Rs 279 touched on September 29, 2015, during intra-day trade.
The company owned Jaguar Land Rover (JLR) said that it is to double the size of its Engine Manufacturing Centre (EMC) as part of a £450 million expansion programme. JLR engine EMC in the UK supplies engines to the three vehicle plants of JLR located in the UK, Tata Motors said in a filing.
JLR said that the decision to expand the size of the EMC was driven by global demand for current and future car models of JLR.
Meanwhile, the stock has appreciated by 50% from its 52-week low of Rs 279 touched on September 29, 2015, during intra-day trade.
Jinesh Gandhi and Jay Shah, analysts at Motilal Oswal research maintain Buy on stock with target price of Rs 471.
Tata Motors would benefit from ramp-up in Chery joint venture volumes, benefit of new launches viz Jaguar XE, Discovery Sport and upcoming F-Pace, benefit of modular platform strategy, and recovery in India business, analysts said in a report dated November 7, 2015.
At 02:31 PM, the stock was up 3.7% at Rs 416 on the BSE with a combined 8.01 million shares changed hands on the BSE and NSE. The stock was the second biggest gainer among Sensex and Nifty 50 index.
