Tata Motors jumps 7% as JLR's Q2 sales grow 53% QoQ; CLSA maintains 'Buy'

global brokerage CLSA expects Tata Motors to generate strong free cash flow on the back of sequential recovery in sales volume. The brokerage has 'Buy' call on the stock with a target price of Rs 220

Shares of Tata Motors jumped 7 per cent to Rs 143 on the BSE on Tuesday after Jaguar Land Rover's retail sales in the September quarter grew over 50 per cent from sales in the preceding quarter. Retail sales for the quarter ending September 30, 2020 were 113,569 units, up 53.3 per cent from sales of 74,067 in the prior quarter.

"Almost all of Jaguar Land Rover's retailers worldwide are now open or partially open and the company's plants have resumed production... The vehicle manufacturing plants at Solihull (UK), Halewood (UK) and Nitra (Slovakia), as well as the Engine Manufacturing Centre