Tata Motors races ahead after strong sales in December

Tata Motors advanced 2.09% to Rs 434.30 at 11:56 IST on BSE after the company's domestic sales of commercial and passenger vehicles jumped 52% to 54,627 units in December 2017 over December 2016.

The announcement was made during market hours today, 2 January 2018.

Meanwhile, the S&P BSE Sensex was down 2.05 points or 0.01% at 33,810.70.

On the BSE, 3.99 lakh shares were traded on the counter so far as against average daily volumes of 5.91 lakh shares in the past one quarter. The stock had hit a high of Rs 435 and a low of Rs 422.10 so far during the day. The stock had hit a 52-week high of Rs 553 on 27 January 2017 and a 52-week low of Rs 357.95 on 11 August 2017.

 

The stock had outperformed the market over the past one month till 1 January 2018, gaining 6.58% compared with the Sensex's 2.98% rise. The stock had, however, underperformed the market over the past one quarter, gaining 6.02% as against the Sensex's 8.08% rise. The scrip had also underperformed the market over the past one year, sliding 9.75% as against the Sensex's 26.99% rise.

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

Tata Motors' commercial vehicles domestic sales surged 62% to 40,447 units in December 2017 over December 2016. Passenger vehicles sales grew by 31% to 14,180 units. The growth in sales is due to the increasing demand for vehicles across segments, new product launches and strategic customer initiatives, Tata Motors said in a statement.

The company's commercial vehicles sales from exports grew by 26% to 6,044 units.

On a consolidated basis, Tata Motors' net profit jumped 195% to Rs 2501.67 crore on 11.3% rise in net sales to Rs 70690.65 crore in Q2 September 2017 over Q2 September 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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