Stocks of Tata Motors ended 4 per cent higher today as its July-September quarter financial results, announced last week, "met" the market expectations.
Tata Motors ended with a gain of 4.07 per cent at Rs 545.10 on the BSE. In intra-day session, it rose by 4.49 per cent to touch 52-week high of Rs 547.35.
At the NSE, the stock jumped 4.06 per cent to end at Rs 545.15.
The company added Rs 3,505.75 crore to its market valuation at Rs 1,46,854.75 crore.
In terms of volume, 8.86 lakh shares were traded at the BSE, while over 70 lakh shares changed hands at the NSE during the day.
"Tata Motors Q2 FY15 results were in-line with our estimates on the operating front even as higher taxation dragged profitability. JLR margins at 19.4% improved in-line with our estimate led by improved product mix," said Bharat Gianani, Senior Research Analyst - Automobile, Angel Broking.
Tata Motors' net profit fell by 7 per cent to Rs 3,291 crore in the second quarter on higher tax provisions and a steep decline in India sales, even as margins improved at its flagship British arm JLR.
The auto major had posted a consolidated net profit of Rs 3,541.86 crore in the September quarter of the last fiscal.
Revenue from the company's British unit Jaguar Land Rover (JLR) went up by 7.34 per cent to Rs 49,160.72 crore in the second quarter this fiscal, as against Rs 45,795 crore in the year-ago period.
JLR reported a massive spike in margin to 19.4 per cent from 15.3 per cent in the year-ago period.
