Surge in vehicles sales drives up Tata Motors

Dalal Street Spikes

 The counter rose on the bourses after the company reported a 39 per cent rise in vehicle sales for October, according to market sources. However, profit sales pulled the scrip down.

 Tata Motors vehicle sales stood at 26,862 units for October 2003. Sales for the seven months between April-October 2003, was up 43.6 per cent at 165,384 vehicles, though, on a month-on-month basis, sales were down 5 per cent, from 28,302 in September 2003.

 Tata Motors signed a binding Memorandum of Understanding (MoU) to acquire Daewoo Commercial Vehicle Company (DWCV), the truck-making arm of South Korea