Tata Motors zooms into fast lane

Tata Motors is a big gainer on the bourses today. The stock is galloping since the morning. Opening at Rs.355, it is now at an intra day high of Rs.374, up 6%. Volumes are at some 7 lakh shares.

The sudden exuberance on the counter is on the back of very good performance of Jaguar Land Rover, the UK's leading manufacturer of premium luxury vehicles. It reported September retail sales of 47,634 vehicles, up 3% from a record September 2014 performance. The company sold 349,412 vehicles in the first nine months of 2015, in line with prior year. Jaguar Land Rover's regional performance year-to-date shows 21% growth in Europe, 18% in North America and 15% in the UK, with Overseas down 12%. Sales in the China Region are down 29% year-to-date.

Jaguar delivered a solid performance in the month, selling 10,394 vehicles, up 22%. The increase reflects strong sales of the all-new Jaguar XE sports saloon in markets in which it has gone on sale since May, with China sales only starting in September and US sales starting in 2016. The introduction of the all new Jaguar XF only started this quarter, following the run out of the prior model.