Tata Motors up by 2 per cent on higher global wholesales for March

Automobile giant Tata Motors announced its global wholesale figures for March 2018 on Wednesday, sending its share price up by over 2 per cent in early trade on Thursday. The company posted an 18 per cent hike in its global wholesales for March 2018 at 153,156 as compared to March 2017.

The global wholesales of all the Tata Motors’ commercial vehicles and Tata Daewoo range surged by 33 per cent in March 2018 on a year-on-year basis. Whereas, the global wholesales of all passenger vehicles grew by over 11 per cent on a year-on-year basis. Recently, the company also recorded an increase in JLR sales despite a dampened market in both the UK and Europe.

In Thursday’s trade, the company posted an intraday high of Rs. 363.95 per share and an intraday low of Rs. 357 per share on BSE. The stock had touched its 52-week high of Rs. 487 per share on May 26, 2017 and its 52-week low of Rs. 324.50 per share on March 26, 2018 on BSE, respectively.

At 13:00 hours IST, the stock was trading at Rs. 361.05 per share, higher by 1.62 per cent on BSE on Thursday. Meanwhile, S&P BSE Sensex was trading at 34,035.47 level, higher by 0.28 per cent and NSE Nifty50 was trading at 10,433 level, higher by 0.15 per cent.