Tata Motors gains post February JLR global sales figures

NEW DELHI: Shares of Tata Motors were trading higher in early trade on Tuesday after the company’s subsidiary Jaguar Land Rover (JLR) reported 9.30 per cent year-on-year rise in sales figures for February.

JLR sold 40,978 units in February 2017 against 37,494 units sold in the same month last year.

The scrip was trading 0.65 per cent up at Rs 473.75. Shares of the auto major opened at Rs 470.70 and touched a high and low of Rs 475.80 and Rs 466.60, respectively, in trade so far. Benchmark BSE Sensex was down 40.93 points, or 0.14 per cent, at 29007.26 around 10.55 am (IST).

UK sales of JLR jumped 14.2 per cent YoY to 2,719 units in Feb 2017 against 2,381 units in the same month a year ago. However, sales of JLR in China increased by 40.4 per cent YoY to 8,515 units against 6,066 units in Feb 2016.

Tata Motors DVR shares were trading 0.71 per cent up at Rs 284.50 around the same time.

The Jaguar brand recorded sales of 12,203 units in February, up 81 per cent YoY, driven by strong sales of the F-PACE. However, Land Rover posted sales of 28,775 units in February, down 6 per cent from February 2016.