Tata Motors shares up on surge in August global wholesale figures




Brokerage firm Motilal Oswal has ‘Buy’ rating on Tata Motors with a target price of Rs 542. NSEBSETata MotorsLoading data…

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        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES Shares of Tata Motors were trading higher in early trade on Wednesday after the company said that group global wholesale including Jaguar Land Rover, rose 9 per cent at 94,210 units in August 2017 over August 2016.

        Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range rose 17 per cent at 35,352 units in August 2017 over August 2016.

        Global wholesales of all passenger vehicles jumped 5 per cent YoY to 58,858 units in August 2017.

        Global wholesales for Jaguar Land Rover (JLR) were 44,420 vehicles (JLR number for August 17 includes CJLR volumes of 7,026 units). Jaguar wholesales for the month were 10,978 vehicles, while Land Rover wholesales for the month were 33,442 vehicles. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

        The scrip was trading 0.84 per cent up at Rs 390.45 around 9.45 am (IST). Shares of the company opened at Rs 391.55 and touched a high and low of Rs 393.65 and Rs 390.10, respectively, in trade so far. Benchmark BSE Sensex was up 47 points, or 0.15 per cent, at 32,206.

        Brokerage firm Motilal Oswal has ‘Buy’ rating on Tata Motors with a target price of Rs 542.




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