Tata Motors rises 5% despite weak US, UK sales data


Shares of Tata Motors rose more than 5 percent intraday on September 5, though the company reported weak sales in the US and the UK.

The company’s August JLR UK sales dropped 20.8 percent at 2,726 units against 3,444 units in the same period last year .

Jaguar UK sales were down 15.5 percent at 1,049 units, while Land Rover dropped 23.8 percent at 1,677 units.

In the US, too, JLR sales were down 9.8% at 8,700 units. Jaguar sales were down 13.8% at 2,128 units and Land Rover sales were down 8.5 percent at 6,572 units.

Its domestic auto sales reduced 49 percent to 29,140 units from 57,210 units, and total sales for August 2019 stood at 32,343 vehicles against 62,688 units in 2018.

At 1345 hours, Tata Motors was quoting at Rs 115.30, up Rs 5.80, or 5.30 percent on the BSE.

News Source:- Moneycontrol

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