Tata Motors shares jump nearly 6 pc after retail sales at Jaguar Land Rover rise

By: |
April 13, 2021 8:31 PM

Stating that there is continuing recovery from the impact of COVID-19, JLR said its sales in China in Q4 were up 127 per cent compared to the year-ago period, when that market was heavily affected by the pandemic.

Increasingly, households that typically buy their monthly groceries at neighbourhood shops or kiranas are embracing the digital route.Increasingly, households that typically buy their monthly groceries at neighbourhood shops or kiranas are embracing the digital route.

Shares of Tata Motors on Tuesday jumped nearly 6 per cent after the company-owned Jaguar Land Rover (JLR) reported a 12.4 per cent rise in retail sales to 1,23,483 units in the fourth quarter of 2020-21.

The stock gained 5.62 per cent to close at Rs 302.70 on BSE. During the day, it jumped 6.24 per cent to Rs 304.50.

At the NSE, it surged 5.68 per cent to close at Rs 302.85.

In traded volume terms, 78.13 lakh shares were traded on BSE and over 11.68 crore shares on NSE during the day.

Stating that there is continuing recovery from the impact of COVID-19, JLR said its sales in China in Q4 were up 127 per cent compared to the year-ago period, when that market was heavily affected by the pandemic.

Sales in North America were also up year-on-year (10.4 per cent), while other regions remain lower than pre-COVID levels, including overseas markets (down 10 per cent), the UK (decline of 6.8 per cent) and Europe (4.9 per cent dip), JLR said in a statement.

For the full 2020-21 fiscal, JLR’s global retail sales stood at 4,39,588 units, down 13.6 per cent on the previous year largely due to the adverse impact of the pandemic, it added.

Commenting on the company’s sales performance, JLR Chief Commercial Officer Felix Brautigam said, “While the COVID-19 pandemic has an ongoing impact on the global auto industry, I am pleased to end the financial year with sales up year-on-year in the last quarter”.

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