Tata Motors spurts after good JLR sales

Tata Motors rose 3.59% to Rs 306.10 at 15:12 IST on BSE after the company said that sales of its subsidiary Jaguar Land Rover rose 6.1% to 48,281 units in May 2018 over May 2017.

The announcement was made during market hours today, 7 June 2018.

Meanwhile, the S&P BSE Sensex was up 285.19 points, or 0.81% to 35,464.07.

On the BSE, 12.84 lakh shares were traded in the counter so far compared with average daily volumes of 11.37 lakh shares in the past two weeks. The stock had hit a high of Rs 306.45 and hit a low of Rs 295.60 so far during the day. The stock hit a 52-week high of Rs 484.40 on 6 June 2017. The stock hit a 52-week low of Rs 282 on 31 May 2018.

 

Tata Motors said that sales of its subsidiary Jaguar Land Rover (JLR) rose 6.1% to 48,281 units in May 2018 over May 2017. The sales growth was primarily driven by the introduction of new models including the Range Rover Velar, the Jaguar E-PACE and the new Land Rover Discovery.

Retail sales for May were up significantly year-on-year in overseas markets (24%), in the UK (20.9%) and in North America (16.7%) but down in Europe (8.7%) and in China (8.1%) as import duty reduction is resulting in deferred purchases in advance of the 1 July effective date.

Tata Motors' subsidiary Jaguar Land Rover (JLR) is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium all wheel-drive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques.

Tata Motors consolidated net profit dropped 49.84% to Rs 2175.16 crore on 18.33% rise in total income to Rs 91644.49 crore in Q4 March 2018 over Q4 March 2017.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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