Tata Motors shares rise over 6% as firm reports increase in October sales

Tata Motors

 

Shares of Tata Motors Friday soared over 6 per cent after the company reported 18 per cent increase in domestic sales in October.

The scrip gained 6.29 per cent to close at Rs 190 on the BSE. Intra-day, it surged 7 per cent to Rs 191.40.

On the NSE, shares of the company jumped 5.82 per cent to end at Rs 189.90.

The company's market valuation rose by Rs 32.48 billion to Rs 548.59 billion on the BSE.

In terms of the equity volume, 51.90 lakh shares of the company were traded on the BSE and over 20 million shares changed hands on the NSE during the day.

Tata Motors Thursday reported 18 per cent increase in domestic sales to 57,710 units in October as compared to 48,886 units in the same month last year.

Domestic passenger vehicle sales were up by 11 per cent at 18,290 units last month as compared to 16,475 units in October 2017, the company said in a statement.