JLR drive Tata Motors May sales; Ratan Tata buys 4.25L shrs
Tata Motors' global sales in May rose 12% year-on-year to 96,089 units, helped by robust sales growth at UK-based luxury Jaguar Land Rover unit.
June 15, 2012 / 20:42 IST
Moneycontrol Bureau
Tata Motors' global sales in May rose 12% year-on-year to 96,089 units, helped by robust sales growth at UK-based luxury Jaguar Land Rover unit.Jaguar Land Rover sales accelerated 35% to 30,094 units last month, it said. While Land Rover sales surged 42% to 25,752 units, Jaguar sales rose 3% at 4,342 units.Investors cheered the strong growth at JLR. There were concerns earlier that slowing demand in JLR's key markets like China would hurt sales.Shares also rose after Tata Motors, seperately said Tata Group Chairman Ratan Tata had picked up 4.25 lakh shares of the company through the open market on Thursday.Tata now holds 13,61,730 ordinary shares and 1,09,180 'A' ordinary shares, aggregating to 0.05% of voting rights of Tata Motors, the company said in a stock exchange filing on Friday.Overall, Tata Motors said total passenger vehicle sales in May were up 6% at 20,970 units and commercial vehicles sales rose 3% to 45,025 units.Tata Motors shares were up 4.6% at Rs 237.05 on NSE in afternoon trade.Nachiket Kelkar
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