Moneycontrol Bureau
Shares of Tata Motors gained 3 percent intraday Monday on strong sales of JLR in US and exports in March.
Jaguar Land Rover, the luxury car maker, has reported a 29 percent year-on-year growth in March sales to record high of 10,866 vehicles led by growth in both brands.
Land Rover sales grew 29 percent, driven by Discovery Sport and Discovery LR4. However, Range Rover, Range Rover Sport and Range Rover Evoque sales declined 10 percent, 5.3 percent and 32 percent, respectively.
Jaguar sales growth of 28 percent was led by XF, F-Type and XJ, the company said, adding sales in the US will improve further with the start of sales of new XE sedan in May-16 followed by launch of F-Pace crossover in June-16.
Meanwhile, company's commercial and passenger vehicles sales grew by 1 percent to 53,057 units in March compared to same period last year, led by exports that grew by 17 percent to 6,356 units in same period.
Domestic sales disappointed, falling 1 percent to 46,701 units due to a 44 percent decline in passenger vehicles sales but its commercial vehicle sales showed a 20 percent growth at 38,247 units year-on-year.
"Light commercial vehicle sales were at 19,709 units, a growth of 15 percent over March 2015 while medium & heavy commercial vehicle sales continued to show growth at 18,538 units, higher by 24 percent," the company said in its filing last week.
At 15:25 hours IST, the scrip of Tata Motors was quoting at Rs 387.40, up Rs 7.85, or 2.07 percent on the BSE.Posted by Sunil Shankar Matkar
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