Tata Motors zooms as March sales pick up m/m

MUMBAI: Shares of Tata Motors were in the limelight on Thursday after the auto major���s March sales figures showed a 24 per cent rise from a month ago in the domestic market which suggested revival of demand; thanks to the financial stimulus announced by the government in February.

The company���s sales of commercial vehicles in March 2009 in the domestic market stood at 29,006, higher by 24% than that in February 2009 but 19 per cent lower than 35,993 vehicles sold in March 2008. M&HCV sales stood at 12,333, reflecting a 40% growth over February 2009, but 40% lower than March 2008. LCV sales at 16,673 nos. are 9% higher than March 2008.

23,680 passenger vehicles were sold in March 2009 in the domestic market -- the highest this fiscal, 24% up over February 2009, but 4% lower than 24,737 vehicles sold in March last year.

Tata Motors��� sales from exports at 1,799 vehicles in March 2009, were up 36% over February 2009, but declined by 69% compared to 5,765 vehicles in March 2008. The cumulative sales from exports for the fiscal at 33,410 nos. declined by 38% over 54,272 nos. in the same period last year.

At 11 am, the company���s shares surged to Rs 196.80, up 9.42 per cent or Rs 16.95 from its previous close. The stock touched a high of Rs 201.70 in trade so far.