Tata Motors gain on new bus orders under JnNURM scheme

Stock up over 2% after the automaker received an order to supply 928 Tata Marcopolo built buses to the State Transport Authorities in South India.

Tata Motors gained over 2% at Rs 498 on the Bombay Stock Exchange after the automaker received an order to supply 928 Tata Marcopolo built buses to the State Transport Authorities in South India.

The order comprises 487 units bagged from Karnataka (Karnataka State Road Transport Corporation), 40 units from Puducherry (Pondicherry Road Transport Corporation), 97 from Kerala (Kerala State Road Transport Corporation) and 304 from North East Karnataka region (North Eastern Karnataka Road Transport Corporation), Tata Motors said in a press release.

These are part of the 2700 orders bagged by Tata Motors, for Tata 'URBAN' buses under JnNURM - II scheme, it added.

The stock opened at Rs 486.80 which also around the low point of the day for the stock thus far. Thereafter, the stock edged higher to Rs 500.50.

A spurt in volume by over 2.06 times was registered in the first hour of trade. A little over 16 lakh shares changed hands on BSE and NSE.