Moneycontrol
Last Updated : Dec 04, 2018 10:50 AM IST | Source: Moneycontrol.com

Tata Motors rises 2% on strong growth in JLR November US sales

Jaguar sales in the United States stood at 3,197 units, higher by 4.4 percent compared to 3,061 units in same period last year.

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Tata Motors climbed nearly 2 percent in morning on Tuesday after the luxury car maker registered healthy growth in US sales for the month of November.

Jaguar Land Rover, the UK-based subsidiary of Tata Motors, sold 11,744 units in the US in November 2018, higher by 19.1 percent over 9,862 units sold in same month last year.

The growth was largely driven by Land Rover sales which grew by 25.7 percent to 8,547 units against 6,802 units sold in November 2017.

Jaguar sales in the United States stood at 3,197 units, higher by 4.4 percent compared to 3,061 units in same period last year.

After a long time, JLR reported good growth in sales. Due to dismal performance in earnings as well as sales in the past, the stock lost more than 50 percent in last one year.

Citi has a buy rating on Tata Motors with a target price at Rs 330, implying 88 percent potential upside.

The research house sees significant value in the stock, even in the absence of short-term catalysts.

At 10:08 hours IST, the stock was quoting at Rs 177.10, up Rs 1.70, or 0.97 percent on the BSE.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Dec 4, 2018 10:16 am
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