Tata Motors rose 0.05% to Rs 517.50 at 14:53 IST on BSE on reports a foreign brokerage recommended a buy on the stock stating that the new Jaguar XE can be a big volume boost for the company's British luxury car unit Jaguar Land Rover.
Meanwhile, the S&P BSE Sensex was down 155.63 points or 0.57% at 27,109.69.
On BSE, so far 2.70 lakh shares were traded in the counter as against average daily volume of 4.42 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 0.59% at the day's high of Rs 520.35 so far during the day. The stock lost as much as 0.91% at the day's low of Rs 512.50 so far during the day. The stock had hit a record high of Rs 531 on 28 August 2014. The stock had hit a 52-week low of Rs 320.10 on 10 September 2013.
The stock had outperformed the market over the past one month till 9 September 2014, surging 19.46% compared with the Sensex's 7.64% rise. The scrip had also outperformed the market in past one quarter, jumping 15.35% as against Sensex's 6.59% rise.
The large-cap company has equity capital of Rs 547.34 crore. Face value per share is Rs 2.
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According to the foreign brokerage, the new Jaguar XE (small Jag) can take Jaguar brand to the next level and gives Tata Motors premium brand a volume boost. The brokerage is building in sales of 60,000 units from the model in FY 2016, but added that it has a potential to sell more than 1 lakh units annually.
Tata Motors reported 212.7% jump in consolidated net profit to Rs 5398.21 crore on 37.2% growth in net sales to Rs 64150.74 crore in Q1 June 2014 over Q1 June 2013.
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 232834 crore ($38.9 billion) in 2013-14. It is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fifth largest truck manufacturer and fourth largest bus manufacturer.
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