The Tata Motors stock gained about 17 per cent on Tuesday on the back of brokerage upgrades owing to a better-than-expected September quarter performance at its British unit, Jaguar Land Rover (JLR).
Plans to reduce debt and rack up gains through cost cutting also perked up the Tata Motors stock.
The stock has, over the last two trading sessions, gained 36 per cent. While analysts have pointed out multiple triggers for this, what has led to the upgrades is the operational turnaround at JLR.
Volumes for the maker of JLR cars are showing signs of bottoming out after five quarters of muted growth,