Tata Motors rose 1.46% to Rs 551.60 at 12:45 IST on BSE after the company's announcement that its total passenger and commercial vehicle sales rose 6% to 43,061 vehicles in August 2016 over August 2015.
The announcement was made after market hours yesterday, 1 September 2016.Meanwhile, the BSE Sensex was up 31.45 points, or 0.11%, to 28,454.93.
On BSE, so far 3.86 lakh shares were traded in the counter, compared with average daily volume of 9.16 lakh shares in the past one quarter. The stock hit a high of Rs 555.50 and a low of Rs 549.70 so far during the day. The stock hit a 52-week high of Rs 548.15 on 31 August 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 13.46% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.77% as against Sensex's 5.89% rise.
The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Tata Motors's domestic sales of Tata commercial and passenger vehicles rose 3% to 36,466 units in August 2016 over August 2015. Tata Motors passenger vehicles sales in the domestic market rose 16% to 13,002 units in August 2016 over August 2015. Sales of passenger cars rose 17% at 11,435 units in August 2016 over August 2015, due to strong demand for the recently launched Tiago.
The overall commercial vehicles sales in the domestic market fell 3% to 23,464 units in August 2016 over August 2015. Sales of Tata Motors light commercial vehicles in the domestic market rose 10% at 13,495 units in August 2016 over August 2015. Medium and heavy commercial vehicles (M&HCV) sales fell 17% to 9,969 units in August 2016 over August 2015. The segment saw subdued demand, with the slowdown of recent months continuing, as a result of postponement of replacement and fleet expansion. The company's sales from exports rose 27% to 6,595 units in August 2016 over August 2015.
Tata Motors' consolidated net profit declined 56.98% to Rs 2260.40 crore on 8.64% rise in total income to Rs 66559.08 crore in Q1 June 2016 over Q1 June 2015.
Tata Motors is a market leader in commercial vehicles in India. The company's British unit JLR sells premium luxury cars.
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