Tata Motors share price mobilized 10% intraday on 5th Feb after luxury carmaker JLR (Jaguar Land Rover) showed a 2.8% year-on-year growth in UK sales. The stock has mobilized 47% in the last 6 months, specifically after government measures and among continuing improvement in domestic passenger vehicle sales.
The stock was mentioned at ₹181.75, up to ₹16.05, or 9.69%, on the BSE at 1452 hours.JLR sold 7,938 vehicles in January in the UK, against 7,722 vehicles sold in the same month last year.
January was weak in the US with sales turning down to 9.8% to 9,438 units year-on-year and the month-on-month fall was a huge 31.6%. Jaguar sales break down by 29.6 percent year-on-year (down by 34.5%month-on-month) to 2,168 vehicles. JLR sales busted down by 1.6% year-on-year (down by 30.7%month-on-month) to 7,270 vehicles in January 2020.
The month-on-month sales growth was at 28.6%.Jaguar sales grew by 9.6% year-on-year (up to 25.33 month-on-month) to 2,325 vehicles, while Land Rover sales increased bounded by 0.2% (up to 30% month-on-month) to 5,613 units in Jan 2020.
Tata Motors had reported merged profit at ₹1,738 crores for the December quarter, against a loss of ₹26,992.5 crores in the previous year, helped by JLR that showed profit before tax of 318 million pounds and 350bps marginal gain YoY.