Tata Motors stock up nearly 5%; lifts Sensex by 56 points

Tata Motors stock up nearly 5%; lifts Sensex by 56 points

Shares of Tata Motors today rose by nearly 5 per cent, topping investors' buying list, on hopes of robust October sales number, helping the BSE benchmark Sensex log a gain of over 56 points.

Tata Motors scrip closed the day 4.89 per cent higher at Rs 267.10 on the BSE. During the day, the stock zoomed up by 5.63 per cent to Rs 269. The auto major was the top gainer among the 30-share Sensex and the 50-share NSE Nifty indices.

The scrip settled at Rs 266.05, up 4.44 per cent on Nifty. "Auto sector gained in today's trade after better-than-expected sales figure announcements," Nidhi Sarswat, Research Analyst, Bonanza Portfolio said.

After markets closed, Tata Motors reported 6 per cent increase in its total vehicle sales to 71,771 units in October this year.

The company's domestic sales of 'Tata' branded commercial and passenger vehicles for October 2012 were at 68,145 units, up 6.74 per cent, over 63,837 units in October last year.

Total passenger vehicle sales in the domestic market stood at 21,119 units in October, down 15.94 per cent from 25,124 units in the same month last year.