Tata Motors rides Jaguar Land Rover to 52-week high

Mumbai, Aug 18: Automobile major Tata Motors‘ scrip gained over three percent in Monday’s trade and hit a fresh record high of Rs 501.35. The surge in the stock came after the company’s luxury brand Jaguar Land Rover sales rose 12.24 percent to 39,467 units from 35,162 units in the corresponding month of last year.

The scrip at the Bombay Stock Exchange (BSE) ended the day’s trade up 19.30 points or 3.98 percent at Rs.503.90 from its previous close of Rs.484.60. The scrip touched a high of Rs.505.70 and a low of Rs.488.25 in the day’s trade.

However, Tata Motors’ global wholesales fell by 8.46 percent to 80,151 units in the month under review from 87,566 units sold in the corresponding month of last year. The passenger vehicle sales in the global off-take was up 4.96 percent at 49,001 units from 46,684 units sold in July 2013.