Tata Motors shares up 3% on JLR India sales boost
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New Delhi: Shares of Tata Motors Ltd rose nearly 3% on Tuesday after the company’s UK subsidiary Jaguar Land Rover Plc reported 16.23% increase in its sales in India in 2018.
Tata Motors shares gained 2.34% to ₹179.35 apiece on the BSE after surging 2.99% to ₹180.50 intraday. On the NSE, the stock closed 2.62% higher at ₹179.95.
On Tuesday, JLR reported 16.23% increase in its sales in India at 4,596 units in 2018. The company had sold 3,954 units in 2017, JLR India said in a statement.
The sales volume achieved in 2018 was the highest in a calendar year for the company. The sales were driven by models such as Land Rover Discovery Sport, Range Rover Evoque, Jaguar F-Pace, XE and XF, it added.
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