Tata Motors stock rallies 6 per cent on robust Jaguar Land Rover sales, new product lineup
By PTI | Published: 04th April 2018 12:14 PM |
Last Updated: 04th April 2018 12:14 PM | A+A A- |
Tata Motors (File | Reuters)
NEW DELHI: Shares of Tata Motors today surged as much as 6 per cent in morning trade on the bourses after JLR India reported a 83 per cent rise in FY18 sales and lined up 10 new products for the new fiscal.
Tata Motors-owned Jaguar Land Rover yesterday said it plans to bring 10 new products in India in 2018-19, riding high on 83 per cent jump in sales in the last fiscal.
Following the announcement, shares of the company opened at Rs 349.85, then touched an intra-day high of Rs 363.00, up 5.72 per cent over its previous closing price.
On NSE, the stock opened at Rs 346.80, then jumped to a high of Rs 362.90, higher by 5.77 per cent over its previous closing price.
The company's new products such as the fifth-generation all-new Land Rover Discovery and the New Range Rover Velar have been received very well in the market.
Besides, other models like Jaguar XE, XF and F-PACE and Land Rover Discovery Sport and Range Rover Evoque have also done well during the year, said Jaguar Land Rover India President & Managing Director Rohit Suri.
