Tata Motors zooms up by 9 per cent

Auto major Tata Motors' stock was buzzing on Tuesday reacting to the guidance that Jaguar Land Rover (JLR) sales is expected to increase in Q4FY19. Tata Motors closed with gains of Rs. 15.65 or up by 8.36 per cent at Rs. 202.80 per share.

JLR, which is a wholly-owned subsidiary of Tata Motors, contributes more than 70 per cent to the parent company's revenues. JLR guided on Monday that its Q4 results would improve on the back of significant positive cash flow. Also, the company announced that it plans to launch multiple electric models of JLR in India this year.

But the company's commercial and passenger vehicles sales declined by a per cent to 68,709 units in the domestic market.

On Tuesday, the stock of Tata Motors was buzzing throughout the trading session and hit an intraday high of Rs. 204.00 up by 9 per cent. The stock's upper circuit limit for the day was placed at 10 per cent. The stock also saw huge volume gains of 427.21 per cent compared with 5-day average trading volume. The stock has seen an upmove for the last 4 days and gained 19.36 per cent during the period.

Tata Motors was the volume topper on BSE Sensex and contributed 28.05 points to the index gains of 184 points or 0.48 per cent at 39,056.65 on Tuesday.