Improving business outlook propels Tata Motors stock to 27-month high

Sequential rise in JLR, India truck sales have led to over 30% gains in just eight trading sessions

Shares of Tata Motors, which surged 8 per cent on Tuesday, and have gained more than 30 per cent in the past eight trading sessions, are now at a 27-month high.

A sequential improvement in Jaguar Land Rover (JLR) sales across key markets like China, revival in domestic commercial vehicle business, and steady growth in India’s passenger car sales, coupled with the management’s focus on free cash flow generation and balance sheet deleveraging, have lifted investor sentiment.

JLR, on Monday evening, released its 2020 sales figures, which indicate strong demand in China (about 20 per cent of overall volumes) as well as