Tata Motors heads north after good JLR sales

Tata Motors rose 2.68% to Rs 448.50 at 9:16 IST on BSE after the company said its British luxury unit Jaguar Land Rover reported 11% rise in sales at 51,591 units in June 2017 over June 2016, driven by healthy China market.

The announcement was made after market hours on Friday, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 196.24 points or 0.63% at 31,556.87.

On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 18.80 lakh shares in the past one quarter. The stock had hit a high of Rs 457.50 and a low of Rs 441.70 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 417.10 on 8 May 2017.

 

The stock had underperformed the market over the past one month till 7 July 2017, sliding 4.62% compared with the Sensex's 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 6.67% as against the Sensex's 5.57% rise. The scrip had also underperformed the market over the past one year, declining 4.05% as against the Sensex's 15.29% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar sales grew by 16.4% to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9% to 36,248 units in June 2017 over June 2016.

On a consolidated basis, net profit of Tata Motors declined 16.8% to Rs 4336.43 crore on 2.9% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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