The Tata Motors scrip surged 10.47 per cent to Rs 414.2 on posting a 57 per cent growth in net profits. The net profit stood at Rs 513.8 crore for the quarter ended June 30 against Rs 326.1 crore in the corresponding quarter last year.
The spurt in net profit is attributed to an altered accounting policy and cost-cutting measures adopted earlier. The rise in net profit was on the back of a fall of 11.8 per cent in sales to Rs 6,876.6 crore. The stock made an intra-day high of Rs 424.4 and a low of Rs 380.1 with trading volumes of 42.4 lakh shares.