Shares of Tata Motors today rose by over 4 per cent, adding Rs 5,587 crore to its market valuation, on robust performance of its British subsidiary Jaguar Land Rover (JLR).
The stock gained 4.30 per cent to settle at Rs 469.45 on BSE. During the day, it jumped 5 per cent to Rs 472.95.
On NSE, shares of the company rose by 4.22 per cent to close at Rs 469.55.
The company's market valuation also rose by Rs 5,587.57 crore to Rs 1,35,546.57 crore.
The stock was the top gainer among the Sensex and Nifty components.
On the volume front, 14.93 lakh shares of the company were traded on BSE and over two crore shares changed hands on NSE during the day.
"After disappointments over the past two quarters, JLR delivered a good set of numbers," Edelweiss Research said in a report.
Robust performance of JLR somewhat helped the numbers, but currency volatilities, which saw the rupee appreciating against the pound, cast some adverse impact on the bottom line. JLR reported a 13 per cent jump in retail sales and a 10.1 per cent increase in revenues during the reporting quarter.
Tata Motors yesterday reported a 16.79 per cent decline in the March quarter net at Rs 4,336.43 crore on slowdown in the domestic business, terming 2016-17 as a year of "homemade misses", and promised to work on execution.
The Tata group company reported a 35 per cent drop in 2016-17 post tax profit at Rs 7,454 crore at a consolidated level. Total revenues moved up to Rs 15,206 crore in the fourth quarter from the year-ago's Rs 14,258 crore on a standalone basis.
"Tata Motors reported strong numbers for Q4 FY17 with consol. EBITDA margin at 15 per cent, driven by healthy margin recovery at JLR and slight improvement in standalone business post demonetisation impact," JM Financial Institutional Securities said in a report.
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