Tata Motors' shares party on D-street after sweating it out

Tata Motors shares are having a gala time on D-street. Shares of the company on Sept 6 were at their 19 months' high. Shares of the company on September 7 opened at Rs 590, marginally up by 0.03 per cent. In the last 5 days, shares of the company have given a return of 11 per cent. In the last 6 months shares have surged by 70 per cent.

That’s not all, the automobile manufacturer has more to cheer about, the Jaguar brand which it acquired in 2008 has achieved best ever August sales in its history. Company has informed bourses that Jaguar Land Rover reported its best ever August retail sales of 36,926 vehicles, which is up 26 per cent as compared to August 2015. The month’s performance has been driven by strong sales of the Land Rover Discovery Sport, the Jaguar F-PACE and XE. 

Jaguar Land Rover sold 372,978 vehicles in the first eight months of 2016, which is up by 24 per cent as compared to the same period in the previous year. In August, Jaguar Land Rover has delivered particularly solid performances in North America and Europe with retail sales increasing by 45 per cent and 37 per cent respectively compared to the previous year. Retail sales were 36 per cent up in China, 3 per cent down in the UK, and 2 per cent down in other overseas markets.

Well, the positive streak of the stock is expected to continue further as the company has further bagged order to supply 5000 buses worth 9000 crores to 25 state transport units.