Tata Motors share price rallied as much as 5 per cent on Thursday after the company’s arm Jaguar Land Rover (JLR) reported a strong 25 per cent jump in US sales at 7,929 units in February 2016 against 6,327 units a year earlier.
At 12.18 pm, Tata Motors shares were trading 4.78 per cent up at Rs 332.15. The scrip opened at Rs 324.10 and has touched a high and low of Rs 333.90 and Rs 321.75, respectively, in trade so far. Later, the share price ended 6.10 per cent up at Rs 336.35
Overall, Tata Motors (TAMO) reported 6 per cent year-on-year rise in vehicle sales for the month ended Feb 2016. However, TAMO registered a decline of 20.4 per cent YoY in the PV segment in the domestic markets. The company has pushed back the launch of Tiago, earlier named as Zica to March 2016. according to Sharekhan, the new launch might aid volume revival for TAMO in the passenger car segment.
In the past one year, the share price of Tata Motors surged 45.15 per cent to Rs 317 till March 2, whereas the BSE Sensex plunged 17.71 per cent during the same period.
For the quarter ended December 2015, the company posted net profit of Rs 3524.41 crore, down 1.88 per cent, against Rs 3592 crore in the corresponding quarter a year ago.