Tata Motors extends gain after global sales rise in February

Tata Motors is trading higher by 4% to Rs 369, extending its Friday’s 2% gain on the BSE after the company reported 17% year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR) vehicles, at 98,842 units in February 2016. The company had sold 83,951 units in February 2016.

Global wholesales for JLR were 52,313 vehicles. Jaguar wholesales for the month were 10,247 vehicles and cumulative wholesales were 88,736 vehicles, while Land Rover wholesales for the month were 42,066 vehicles and cumulative wholesales were 390,770 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 479,506 vehicles, Tata Motors said in a statement.

Global wholesales of all passenger vehicles in February 2016 were at 63,672, higher by 18%, compared to February 2015. Cumulative passenger vehicles wholesales for this fiscal at 601,110 was higher by 11%, over the last fiscal, it added.

Thus far in March 2016, the stock outperformed the market by gaining 23% as compared to 8.4% rise in the S&P BSE Sensex.

Till 09:26 AM, a combined 2.21 million shares changed hands on the counter on the BSE and NSE.