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Tata Motors gains after good JLR sales in November
Tata Motors rose 2.97% to Rs 284.65 at 10:15 IST on BSE after the company's wholly-owned subsidiary, Jaguar Land Rover, said its total vehicle sales rose 14% to 29,893 units in November 2012 over November 2011.
Meanwhile, the BSE Sensex was up 9.37 points, or 0.05%, to 19,364.63.
On BSE, 3.97 lakh shares were traded in the counter as against an average daily volume of 11.12 lakh shares in the past one quarter.
The stock hit a high of Rs 285 and a low of Rs 281.25 so far during the day. The stock had hit a record high of Rs 320.60 on 20 April 2012. The stock had hit a 52-week low of Rs 167.75 on 15 December 2011.
The stock had underperformed the market over the past one month till 12 December 2012, falling 1.51% compared with the Sensex's 3.67% rise. The scrip had also underperformed the market in past one quarter, rising 5.19% as against Sensex's 7.53% rise.
India's largest commercial vehicle maker by sales has an equity capital of Rs 637.95 crore. Face value per share is Rs 2.
During the first 11 months of the year, Jaguar Land Rover (JLR) sold 324,184 vehicles, up 32%. November sales increased in almost every major market with sales in China up 43%, sales in Asia Pacific up 26%, sales in UK up 15% and Europe overall sales up 12%, JLR said in a statement. In North America, sales were down 7%, reflecting model year changeover effects and increased competitive conditions.
Since the start of the year, JLR has seen strong sales performance across all of its major markets, with sales in China up 73%, sales in Asia Pacific up 37%, sales in UK up 20% and sales in Europe up 37% and North America rising 12%, JLR said.
Phil Popham, JLR's Director of Group Sales Operations said, Both Jaguar and Land Rover brands continue to deliver strong sales globally. The record breaking performance in our home market, the UK, is great news. The Jaguar XF is starting to gain traction in the market place, while the continued success of the Range Rover Sport and Evoque is encouraging as we are launching our new Range Rover to customers.
In November, Land Rover sold 25,862 vehicles, up 17% compared to the previous year, with increased sales of Range Rover Evoque (39%), Range Rover Sport (3%), Land Rover Discovery (2%) and Freelander (53%). Since the start of the year, Land Rover has sold over 275,000, up 38% compared to the same period last year.
Jaguar sold 4,031 vehicles in November (down by 5%) in anticipation of the introduction of the 2013 Model Year XF and XJ model ranges, including all-wheel drive and new engine options, across most markets at the end of the year. In the first 11 months of the year, Jaguar sold 48,908 vehicles (up by 7%) reflecting the strong performance of the Jaguar XF.
JLR, a wholly-owned subsidiary of Tata Motors, is the largest manufacturer of premium vehicles in the UK.
Tata Motors' consolidated net profit rose 10.5% to Rs 2074.73 crore on 19.1% growth in net sales to Rs 42818.90 crore in Q2 September 2012 over Q2 September 2011.
Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 1,65,654 crore ($ 32.5 billion) in 2011-12. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain and South Africa. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top three in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America.
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India Infoline Research Team / 08:41, Oct 09, 2015
The Indian market too is expected to get off to a positive start. The Nifty looked geared to rally towards the 8300 mark but indices took a breather on Thursday.