Tata Motors up for fifth straight session; stock rises 5%

In the past one week, Tata Motors outperformed the market by surging 12%, as compared to a 3.6% rise in the S&P BSE Sensex.

Shares of Tata Motors were trading higher for the fifth straight day, up 5% at Rs 176 on BSE, after a news report suggested that the company-owned Jaguar Land Rover (JLR) plans to cut thousands of jobs as part of a turnaround strategy.

In past one week, Tata Motors has outperformed the market by surging 12%, as compared to a 3.6% rise in the S&P BSE Sensex.

Jaguar Land Rover will announce plans early next year to cut thousands of jobs as part of a turnaround strategy, the Financial Times reported, citing several unidentified people close to the company.