The shares of Tata Motors gained as much as 3.5% to Rs 221.3, highest since May 27 in Mumbai intraday trading after reports stated that Jaguar Land Rover sales rose 45% in December.
The stocks of Tata Motors had earlier opened at the day's low of Rs 217 and high of Rs 221. The total traded quantity stood at 4.96 lakh shares on the BSE.
According to reports, the sales of Jaguar and Land Rover is the biggest monthly gain since June 2010. Jaguar and Land Rover sales increased 22% to 216,412 units in the nine months to December.
57% of the Tata Motors’ revenue has been generated by the Jaguar Land Rover unit for the year ended March 31, up from 53% a year earlier, added reports.