Tata Motors shares gain on hopes for JLR unit

TATA-SHARES:Tata Motors shares gain on hopes for JLR unit

Shares in Tata Motors reversed early losses to gain as much as 2.7 percent on optimism about the outlook for key unit Jaguar Land Rover after the auto maker reported rising demand for vehicles from the subsidiary in the July-September quarter.

Tata Motors on Wednesday posted net profit that fell below estimates, but traders said margins at the JLR unit had been better than expected.

Tata shares were up 2.6 percent as of 9:37 a.m., having fallen as much as 1.5 percent.