Tata Motors surged 4.2% to Rs 164.8 after Jaguar Land Rover reported best ever U.S. November sales.
Tata Motors' UK unit, Jaguar Land Rover (JLR)'s total November U.S. sales reached 12,472 units, up 6% from November 2018. For the calendar year, JLR achieved 111,895 units, an increase of three percent vs. 108,377 units in 2018.For the month of November, Jaguar sales were 2,958 units, 7% lower than a year ago. For the month of November, the Land Rover brand sold 9,514 units, an increase of 11% from 8,547 units in November 2018.
JLR is the UK's largest automotive manufacturer and is one of the world's premier luxury sports sedan and sports car marques.
Tata Motors' India sales slumped 25.32% to 41,124 units in November 2019 from 55,074 units in November 2018. Total vehicles sales were almost flat at 41,124 units in November 2019 compared with 41,354 units in October 2019. The company recorded a 25% decline in total domestic sales to 38,057 units in November 2019 as against 50,470 in November 2018.
Tata Motors has advanced 52% in three month as compared to a 17.38% rise in Nifty Auto index. The stock continues to trade above its 50 and 200 days simple moving average placed at 148.28 and 160.99 respectively.
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