Tata Motors shares surge 10%; top gainer on Sensex, Nifty

Sep 10 2013, 22:01 IST
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SummaryShares of Tata Motors today rose by nearly 10 per cent as its unit Jaguar Land Rover reported 28 per cent increase in global sales in August this year at 27,852 units

Shares of Tata Motors today rose by nearly 10 per cent as its unit Jaguar Land Rover reported 28 per cent increase in global sales in August this year at 27,852 units.

Tata Motors' scrip climbed 9.88 per cent to close the day at Rs 349.20 on the BSE. In intra-day, the stock rose by 10.76 per cent to Rs 352 - its 52-week high.

At the NSE, the stock ended the day with a gain of 9.82 per cent at Rs 349.

Buoyed by the upmove in the stock, the market value of the auto major jumped Rs 7,105 crore to Rs 94,077 crore.

Tata Motors scrip was the best performer among the blue- chips on both the benchmark indices-- Sensex and Nifty.

"Tata Motors gained close to 10 per cent for the day. The stock zoomed on back of strong sales numbers from Jaguar and Land Rover. JLR has announced a major investment boost of 1.5 billion pounds to introduce technologically advanced aluminum vehicle architecture in a new range of models," said Milan Bavishi, Head Research, Inventure Growth and Securities.

August sales were strong for Jaguar Land Rover in the China Region, up 43 per cent, North America up 40 per cent, the UK up 36 per cent, Asia Pacific up 35 per cent and other overseas markets, higher 18 per cent, the company said in a statement.

Meanwhile, Tata Motors-owned JLR has announced a major investment boost of 1.5 billion pounds to introduce a technologically advanced aluminium vehicle architecture in a new range of models.

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