Tata Motors shares gain on hopes for Jaguar Land Rover unit

Tata Motors shares gain on hopes for Jaguar Land Rover unit
Mumbai:

Shares in Tata Motors reversed early losses to gain as much as 4.48 per cent on optimism about the outlook for key unit Jaguar Land Rover after the auto maker reported rising demand for vehicles from the subsidiary in the July-September quarter.

Tata Motors on Wednesday posted net profit that fell below estimates, but traders said margins at the JLR unit had been better than expected.

Tata shares were up 4.8 per cent at Rs 281.35 on the Bombay Stock Exchange at 11 a.m., having fallen as much as 1.5 per cent.

(With inputs from Reuters)