Tata Motors rose 1.27% to Rs 406.35 at 14:20 IST on BSE on reports that the company's compact sport utility vehicle offering Nexon will be launched on 21 September 2017.
Meanwhile, the S&P BSE Sensex was up 198.78 points or 0.62% at 32,471.39.On the BSE, 6.01 lakh shares were traded on the counter so far as against the average daily volumes of 19.25 lakh shares in the past one quarter. The stock had hit a high of Rs 413.90 and a low of Rs 405.50 so far during the day. The stock had hit a 52-week high of Rs 571.05 on 10 October 2016 and a 52-week low of Rs 357.95 on 11 August 2017.
The stock had outperformed the market over the past one month till 15 September 2017, gaining 4.21% compared with 2.62% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 11.91% as against Sensex's 3.85% gains. The stock had also underperformed the market over the past one year, declining 26.90% compared with 13.58% rise in the Sensex.
The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.
As per reports, Nexon is slated for its launch in the country on 21 September 2017. Nexon will be offered in four variants each -- XE, XM, XT, and XZ+ -- in both petrol and diesel models and will come donned in five colours -- Moroccan blue, Vermont red, Seattle silver, Glasgow grey and Calgary white, reports indicated. Launch of Nexon will mark the company's foray into the rapidly growing compact sport utility vehicle (SUV) segment in India. The vehicle will then compete against primary rivals like the Maruti Suzuki Vitara Brezza and Ford EcoSport, reports added.
On 12 September 2017, Tata Motors announced that the group's global wholesales including Jaguar Land Rover, rose 9% at 94,210 units in August 2017 over August 2016.
Tata Motors' consolidated net profit rose 41.6% to Rs 3199.93 crore on 10.02% decline in net sales to Rs 58493.37 crore in Q1 June 2017 over Q1 June 2016.
Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.
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