Tata Motors share price gained over 2 percent in the morning session on December 2 after the auto major declared its sales data for the month of November.
Tata Motors on December 1 said its total vehicles sales (domestic and international) grew 21 percent in November to 49,650 units. The company had sold 41,124 units in the same month last year.
Total domestic sales increased to 47,859 vehicles in the previous month, from 30,805 units sold in November 2019, Tata Motors said in a statement.
Domestic passenger vehicles sales climbed 108 percent to 21,641 units as compared to 10,400 units in the year-ago month.
However, total commercial vehicle sales (including exports) declined 9 percent to 27,982 units in November 2020 as against 30,588 units earlier.
Domestic commercial vehicles sales dipped 5 percent to 26,218 units in November this year, from 27,657 vehicles sold in the same month of 2019, the statement said.
The stock was trading at Rs 183.95, up Rs 4.25, or 2.37 percent at 09:19 hours. It has touched an intraday high of Rs 184.60 and an intraday low of Rs 183.10.
Shabbir Kayyumi, Head of Technical & Derivative Research at Narnolia Financial Advisors is of the view that Tata Motors has given a nearly vertical move towards Rs 170 levels from Rs 135 which has formed pole of the Flag pattern. A close above Rs 175 has confirmed the breakout. The formation usually occurs after a strong trending move that can contain gaps.
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