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Sep 11, 2012, 12.08 PM IST
Shares of Tata Motors, country's lagest commercial vehicle maker, gained 0.7% intraday on Tuesday as the foreign research firm has issued an overweight rating on the stock with a target price of Rs 285.
Shares of Tata Motors , country's lagest commercial vehicle maker, gained 0.7% intraday on Tuesday as the foreign research firm has issued an overweight rating on the stock with a target price of Rs 285.
The report says, "The Jaguar and Land Rover's (JLR), a UK subsidiary, new SUV launch in October, followed by the Range Rover Sport in 2013 will continue to drive sales and earnings upgrades over FY13-14." Tata Motors' sales, including JLR, jumped 21% year-on-year to 101,605 units in July 2012. Global wholesales of Jaguar Land Rover shot up by 41% YoY to 26,921 units during the same period. The luxury car-maker's sales rose 34.4% YoY to 83,452 units in the quarter ended June 2012. At 11:48 hours IST, the share was trading at Rs 249.70, up 0.34% with volumes of 4,59,279 equity shares. On Monday, the share moved up 1.28% to close at Rs 248.85.
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