Tata Motors is top gainer

Tata Motors is amongst the top gainers of the day. The stock is currently up almost 5.5% at Rs.402 levels with an intra day high of Rs.405.65. Its 52-week high stands at Rs.605.32.

The market is enthused with the company’s October numbers where for the second straight month, it posted a rise in JLR sales and that too in the USA. With 15% of the total revenue coming from USA, its sales in October in US showed a 76% rise while its Land Rover sales rose 98%.

Its total sales reported just a 1% (YoY) rise and domestic sales of both passenger as well as commercial vehicles remained flat. Though passenger cars showed a rise in sales, mainly on the back of new launches, the lower commercial vehicle sales kept the overall sales flat. Thanks to the rise in US sales, exports showed a 13% rise.