Tata Motors up 4% on strong June US sales, passenger cars data

Overall JLR sales continued to be strong as in May also, it reported a solid 18 percent growth year-on-year by selling 44,946 units. That was largely supported by Jaguar sales (up 90 percent against 49 percent in April), largely driven by F-Pace and XE sales in the US. Land Rover registered a 6 percent growth.

Meanwhile, on the domestic front, Tata Motors has registered a 8 percent growth by selling 44,276 units against 40,869 units on yearly basis, supported by passenger and light commercial vehicles sales.

Domestic sales grew by 8 percent to 38,673 units and exports rose by 11 percent to 5,603 units compared with year-ago period. Light commercial vehicle sales increased 14 percent while medium & heavy commercial vehicle sales declined 11 percent YoY.

Passenger cars sales jumped 37 percent to 11,705 units in June YoY as hatchback sales grew by over a 100 percent at 7,126 units due to strong demand for the recently launched Tiago, says Tata Motors in its filing.

At 10:17 hours IST, the scrip of Tata Motors was quoting at Rs 473.00, up Rs 15.10, or 3.30 percent on Bombay Stock Exchange.

Meanwhile, the stock is still below its pre-Brexit levels. On June 23, i.e. before the day of UK vote counting, it closed at Rs 488 (up 3.3 percent) on hopes of Britain staying in European Union but in following three consecutive days, it fell 10 percent on concerns over its growth after United Kingdom's vote to leave the EU.