Tata Motors rose 0.65% to Rs 515.45 at 12:25 IST on BSE after the company said that its British luxury car unit, Jaguar Land Rover reported the best ever October retail sales.
The announcement was made during market hours today, 7 November 2016.Meanwhile, the S&P BSE Sensex was up 209.76 points or 0.77% at 27,483.91.
On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 7.96 lakh shares in the past one quarter. The stock hit a high of Rs 520.90 and a low of Rs 512 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past one month till 4 November 2016, dropping 6.78% compared with the Sensex's 3.74% fall. The scrip had, however, outperformed the market in past one quarter, gaining 2.36% as against the Sensex's 1.59% decline.
The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Jaguar Land Rover's retail sales rose 11% to 46,325 vehicles in October 2016 over October 2015. The company reported best ever retail sales for any October month. The month's performance has been driven by strong sales of the Land Rover Discovery Sport, Range Rover Evoque, Jaguar XF and the introduction of the Jaguar F-PACE, as well as strong year on year sales growth in China and Europe.
Jaguar Land Rover delivered solid retail sales growth across the majority of key regions for October, with China up 39%, Europe up 25%, the UK and North America both up 8% but other overseas markets down 22%.
Jaguar recorded its best October ever, with retail sales jumping 93% to 14,402 vehicles in October 2016 over October 2015, reflecting the strong launch of the F-PACE and the introduction of the long-wheel base XFL in China. Land Rover's sales fell 6% to 31,923 vehicles in October 2016 over October 2015, as production of the Defender and Discovery ceased in January 2016 and August 2016 respectively. Sales of the all-new Discovery are expected to commence in Spring 2017.
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Tata Motors' consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015. The company will announce its Q2 results on 14 November 2016.
Tata Motors is a market leader in commercial vehicles in India. The company's British unit JLR sells premium luxury cars.
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