Tata Motors share price surges 10% as JLR UK sales grow 2.8%

TATAMOTORS

Tata Motors share price rallied 10 percent intraday on February 5 after luxury carmaker Jaguar Land Rover (JLR) showed a 2.8 percent year-on-year growth in UK sales.

The stock has rallied 47 percent in the last six months, especially after government measures and amid consistent improvement in domestic passenger vehicle sales.

The stock was quoting at Rs 181.75, up Rs 16.05, or 9.69 percent, on the BSE at 1452 hours.

JLR sold 7,938 vehicles in January in the United Kingdom, against 7,722 vehicles sold in the same month last year.

The month-on-month sales growth was at 28.6 percent.

Jaguar sales grew by 9.6 percent year-on-year (up 25.33 MoM) to 2,325 vehicles, while Land Rover sales increased marginally by 0.2 percent (up 30 percent MoM) to 5,613 units in January 2020.

However, January was weak in the United States, with sales declining 9.8 percent to 9,438 units YoY and the month-on-month fall was a huge 31.6 percent.

Jaguar sales degrew 29.6 percent year-on-year (down 34.5 percent MoM) to 2,168 vehicles, while Land Rover sales dropped 1.6 percent YoY (down 30.7 percent MoM) to 7,270 vehicles in January 2020.

Tata Motors had reported consolidated profit at Rs 1,738 crore for the December quarter, against a loss of Rs 26,992.5 crore in the year-ago period, supported by JLR that showed profit before tax of 318 million pounds and 350bps margin expansion YoY.

News Source:- Moneycontrol

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