Tata Motors Gains Over 10% On Recovery In Jaguar Land Rover Sales

Tata Motors shares raced ahead more than 4 per cent on the BSE after the auto major reported a recovery in Jaguar Land Rover sales in the December quarter. The shares touched an intra-day high of Rs 229.50, up 4.2 per cent on the BSE on the back of the news development. At 9:30 am, the shares of Tata Motors were trading off their intra-day highs at Rs 225.70, up 2.5 per cent, on the BSE.

Jaguar Land Rover's retail sales for the quarter ended December 31, 2020 stood at 128,469 vehicles, 13.1 per cent higher than 113,569 vehicles sold in the preceding quarter, Tata Motors said in a regulatory filing to the stock exchanges. The sales were, however, down 9.0 per cent compared to the same period last year.

China sales were particularly encouraging, up 20.2 per cent over the previous quarter and 19.1 per cent on a year-on-year basis. Retail sales in most other regions also continued to recover and were up significantly over the prior quarter in North America (+31.7 per cent) and Europe (+20.5 per cent).

The benchmark indices were absolutely flat; the BSE Sensex was at 49,231.35, lower by 43.70 points or 0.08 per cent and the NSE Nifty was at 14489.90, up 7 points at the time.