Tata Motors Up 7% On Buying Interest By Global Funds

Mumbai, September 23: | Updated: Sep 24 2003, 05:30am hrs
The stock of Tata Motors Ltd (TML) rose by 6.98 per cent on The Stock Exchange, Mumbai (BSE) on foreign fund buying ahead of expectations of impressive sales numbers for the second quarter (July-September).

The stock opened at Rs 270 touched an intra-day high of Rs 294 before finally settling at Rs 291.15.

On the National Stock Exchange (NSE) the stock gained by 6.10 per cent to end the day at Rs 289.65 as compared with its previous close of Rs 273.

TML touched a low of Rs 269.95 on BSE while it dropped to Rs 270.50 on NSE.

A total of 23,92,143 shares changed hands on the counter on BSE, whilst on NSE it clocked total traded volumes of 80,73,756 shares.

Dealers said that the company is expected to post good sales numbers which will result in an improved bottomline of TML.

Said a dealer with a domestic brokerage house, There was huge fund buying on the counter and some of it was pending from yesterday. Moreover, the first order to their joint venture partner Rover has been shipped out of the total of 15,000 odd cars to be exported for the whole year.