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Tata Motors gains post June sales

 

Tata Motors logos are pictured outside their flagship showroom in Mumbai

Tata Motors logos are pictured outside their flagship showroom in Mumbai

 

  Tata Motors was trading higher by 3.5% at Rs 474 on the BSE after the company said that its total passenger and commercial vehicle sales rose 8% to 44,276 vehicles in June 2016. The company sold 40,869 vehicles in June 2015.

“Cumulative sales (including exports) of the company for the fiscal were at 123,729 numbers, higher by 6% over 116,504 vehicles, sold last year,” Tata Motors said in a release.

Sales of passenger cars in June 2016 was higher by 37% at 11,705 numbers, compared to 8,516 numbers, in June 2015, as Tata Motors hatchback sales grew by over a 100% at 7,126 units in June 2016, due to strong demand for the recently launched Tiago, it added.

Tata Motors had reported 1% growth in total commercial and passenger vehicles sales at 40,071 units in May 2016 over the previous year.

The stock hit a high of Rs 475 on the BSE in intra-day trade. A combined 3.85 million shares changed hands on the counter on the BSE and NSE till 10:34 AM.