Tata Motors is among the top five gainers on the BSE since morning; the stock opened 10% higher at Rs.85.95 and rose to an intraday high at Rs.88.85, a rise of over 13.5%, going very close to its 15% UC of the day at Rs.89.85.
The stock is up on news reports that JLR has started 75% of its budgeted production in China.
There is no official release from the company but newspaper reports quote sources in the company saying that Chery Jaguar Land Rover Automotive Co Ltd or CJLR’s manufacturing plant in Changshu, which gradually resumed operations from third week of February, has restored its production capacity to 75% of pre-covid-19 levels.
With lockdown measures coming in, the company said that all its retailers in China are open and sales are picking up. The company's sales nosedived 85% in the country in February.