Tata Motors goes up as JLR retail sales rise in US

Shares in Tata Motors Limited advanced upto 9-percent intraday to touch a high level of Rs198.35per share on Tuesday after its segment JLR reported a 29% year-on-year spike in retail sales in February in the United states.

As reported by the company, the luxury British brand sold 11,616 units in February as against 9,013 units in the same month last year. Sales of JLR jumped 59% on year, while Land Rover climbed 19% on year in February.

At 12.30pm, shares of Tata Motors Ltd were trading 7.60percent up at Rs194.00 on NSE.  In comparison, the NSE Nifty50 was trading higher by 45-pts at 10,809.80, while the BSE Sensex gained by 114-pts to trade at 36,178-mark.

Markets erased all early losses took place in the morning session, and are trading near day’s high through mid-market.