Tata Motors up after in-line Aug sales, Daiwa upgrade

TATA-MOTORS-UP-AFTER-IN-LINE-AUG-SALES:Tata Motors up after in-line Aug sales, Daiwa upgrade

 

Reuters Market Eye - Shares in Tata Motors gained as much as 2.2 percent after August vehicle sales were in line with market expectations while domestic sales growth surprised positively.

Shares also boosted after Daiwa upgraded it to 'outperform' from 'hold', raising target price to 271 rupees from 263 rupees, on attractive valuations.

"JLR's new product launches should offset a moderating demand environment in the premium-car segment," Daiwa said in a note.

At 10:32 a.m, shares were up 0.8 percent at 236.30 rupees.