Tata Motors up by 4 per cent on JLR sales growth

Automobile major Tata Motors surged by over 4 per cent on the bourses in Wednesday’s intraday trade as the company’s wholly-owned subsidiary Jaguar Land Rover posted a rise of 11.9 per cent in its sales for April 2018 on a year-on-year basis.

The subsidiary company recorded a spurt in sales by 11.9 per cent to 45,180 units in the month of April 2018. While Jaguar recorded a rise of 8 per cent in its sales to 13,289 units, Land Rover posted an increase of 13.6 per cent in its sales to 31,891 units for April 2018 on a yearly basis.

The growth in the sales were mainly driven by the new models launched by the company, including Range Rover Velar, Land Rover Discovery and Jaguar E-PACE. It posted significant increase in the retail sales with 28.9 per cent growth in China, 25.9 per cent in UK, 21.3 per cent in the Overseas market and 2.5 per cent in North America. However, the company’s retail sales in Europe suffered a backlash, down by over 10 per cent on a yearly basis.

In Wednesday’s trade, Tata Motors hit an intraday high of Rs. 346.75 per share and an intraday low of Rs. 331.10 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 1144 hours IST, the stock was trading at Rs. 342.60 per share, higher by 3.16 per cent on BSE. Meanwhile, S&P BSE Sensex was trading at 35,257.05 level, higher by 0.12 per cent.