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Tata Motors shares up nearly 3% on JLR sales boost

Shares of Tata Motors rose nearly 3 per cent Tuesday after the company-owned Jaguar Land Rover reported 16.23 per cent increase in its sales in India in 2018.

The stock gained 2.34 per cent to close at Rs 179.35 on the BSE. During the day, it surged 2.99 per cent to Rs 180.50.

On the NSE, shares of the company went up by 2.62 per cent to close at Rs 179.95.

Jaguar Land Rover (JLR) Tuesday reported 16.23 per cent increase in its sales in India at 4,596 units in 2018.

The company had sold 3,954 units in 2017, Jaguar Land Rover India said in a statement.

The sales volume achieved in 2018 was the highest in a calendar year for the company. The sales were driven by models such as Land Rover Discovery Sport, Range Rover Evoque, Jaguar F-PACE, XE and XF, it added.