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Tata Motors gains on strong JLR November sales


Tata Motors surged by 3% on reports that the company's UK subsidiary Jaguar Land Rover ( JLR) reported a record 29,893 vehicles in the month of November.

“JLR reported a strong retail volume growth of 13.5% year-on-year (yoy) in November 2012 to 29,893 units driven by strong growth in Land Rover volumes which posted better-than-expected growth of 17.2% yoy,” Angel Broking said in latest report

The company would be reporting the JLR wholesale volumes and global sales numbers on November 15.

Meanwhile, JLR had witnessed increasing sales from emerging markets, which contributed to a 32% increase in global retail sales to 324,184 vehicles in the eleven months to November 30, 2012, the PTI report suggests.

The stock opened at Rs 282 and hit a high of Rs 285 on the BSE. A combined 4.21 million shares have changed hands on the counter in morning trades on both the exchanges.