The shares of Tata Motors rallied 3.7 percent intraday Monday after witnessing strong growth in Jaguar Land Rover's US sales and India's passenger vehicles business in June.
Luxury car maker Jaguar Land Rover estimated a total of 8,448 units sale in June, registering a whopping 44.2 percent growth compared with 5,860 units sold an year-ago period.
The sales increased 125.4 percent to 2,743 units and Land Rover rose 22.9 percent to 5,705 units compared with corresponding period of last fiscal.
Overall, JLR sales continued to be strong as in May reporting a solid 18 percent growth year-on-year by selling 44,946 units. That was largely supported by Jaguar sales (up 90 percent against 49 percent in April), largely driven by F-Pace and XE sales in the US.
However, Tata Motors has registered an eight percent growth by selling 44,276 units against 40,869 units on yearly basis, supported by passenger and light commercial vehicles sales.
The company estimated that domestic sales grew by eight percent to 38,673 units and exports rose by 11 percent to 5,603 units compared with an year-ago period.
Light commercial vehicle sales increased 14 percent while medium and heavy commercial vehicle sales declined 11 percent YoY.
Tata Motors in its filing reported that passenger cars sales jumped 37 percent to 11,705 units in June YoY as hatchback sales grew by over a 100 percent at 7,126 units due to strong demand for the recently launched Tiago.
The scrip of Tata Motors was quoting at Rs. 473.00, up Rs. 15.10, or 3.30 percent on the BSE.
