Tata Motors Shares Hit Over Three-Month High

Tata Motors shares soared 16 per cent on Tuesday to touch their highest level recorded in more than three months. The Tata Motors stock rose continued its upmove for a second straight session after the auto maker reported its earnings for the quarter ended September 30. On the National Stock Exchange (NSE), Tata Motors shares rose as much as 16.05 per cent to Rs 171.40 apiece during the session - an intraday level last seen on July 17. Tuesday's surge followed a 16.44 per cent rise in the stock in a special, one-hour "Muhurat" trading session on Sunday. 

On the Bombay Stock Exchange (BSE), Tata Motors shares jumped to as high as Rs 170.30 apiece during the session, marking a gain of 15.11 per cent from their previous close Rs 147.95.

In a regulatory filing after market hours on Friday, Tata Motors reported a consolidated net loss of Rs 217 crore in the quarter ended September 30, better than Street estimates, as against Rs 1,049 crore in the corresponding period a year ago.

Analysts had on an average expected Tata Motors to report a loss of Rs 1,550 crore, news agency Reuters reported citing Refinitiv data.