Tata Motors rallied 3.52% to Rs 1,021.95 after the total Jaguar Land Rover (JLR) registrations in UK increased 35.03% to 2,255 units in February 2024 from 1,670 units in February 2023.
The Society of Motor Manufacturers and Traders (SMMT), UK, has published the vehicle registrations data for the month of February 2023.New car registrations in the United Kingdom (UK) recorded 14% rise in February 2023 to 84,886 units from 74,441 units in February 2022.
While Jaguar registrations surged 136.54% to 738 units while Land Rover registrations jumped by 11.71% to 1,517 units in February 2024 over February 2023.
JLR is owned by Tata Motors, a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. It is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles market.
Meanwhile, in a major restructuring move, Tata Motors Ltd. (TML) announced that its board approved a demerger plan today. The plan will create two separate publicly traded companies, aiming to empower individual business units and unlock potential synergies across key segments.
The demerger will split Tata Motors into two distinct entities: a company focused on the commercial vehicle (CV) business and its related investments; and a company encompassing all passenger vehicle (PV) businesses, including electric vehicles (EVs) and Jaguar Land Rover (JLR), along with their related investments.
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This decision follows strong individual performances by each business unit within Tata Motors over the past few years. Since 2021, the CV, PV+EV, and JLR segments have operated independently under their respective CEOs.
Tata Motors, a global automaker, is a leader in cars, trucks, buses and electric vehicles. The company has a strong presence in India, UK and other international markets.
The auto major reported a consolidated net profit of Rs 7,025.11 crore in Q3 FY24, steeply higher than Rs 2,957.71 crore in Q3 FY23. Revenue from operations rose 25.07% YoY stood to Rs 1,09,799.22 crore in the quarter ended 31 December 2023.
Shares of Tata Motors hit an all-time high of Rs 1,065.60 in intraday today.
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