Tata Motors rallies greater than 8 p.c after firm says order e book at report degree

Tata Motors rose 9.1 per cent to hit a brand new 52-week excessive of Rs 417.3.

Shares of luxurious carmaker Jaguar Land Rover’s father or mother – Tata Motors – rose 9.1 per cent to hit a brand new 52-week excessive of Rs 417.3 on Monday after the corporate knowledgeable exchanges . Land Rover merchandise for Jaguar proceed to be sturdy with the order e book at report ranges. Nevertheless, the corporate warned that Jaguar Land Rover’s retail gross sales for the three months ended September 2021 had been hampered by the impression of world semiconductor shortages.

“Retail gross sales for the second quarter ended 30 September 2021 had been 92,710 automobiles, down 18.4 p.c in comparison with 113,569 automobiles offered in Q2 final 12 months. Retail gross sales throughout most areas, together with North America (15.6 p.c), had been down year-on-year. The 12 months was low, in China (-6.3 per cent), Europe (-17.0 per cent), and the UK (-47.6 per cent), however had been up in our abroad area (+10.0 per cent),” Tata Motors mentioned in a press launch.

Retail gross sales throughout all fashions had been down year-on-year aside from the brand new Land Rover Defender, which grew 70.4 per cent year-on-year to 16,725 automobiles, making it our bestselling mannequin for the quarter.

“The worldwide semiconductor provide problem represents a big near-term problem for the business that may take time to work by. Nevertheless, it’s encouraging that we had been nonetheless in a position to enhance Land Rover Defender gross sales in Q2. As well as, we’re happy to have a report firm order e book reflecting the underlying demand for our merchandise which we are going to fulfill as semiconductor provide recovers,” mentioned Lenard Hornick, Jaguar Land Rover’s Chief Business Officer.

Previously three periods, Tata Motors shares have risen 25 per cent, outperforming the Sensex by a large 2 per cent achieve.

Until 11:39 am, Tata Motors shares had been buying and selling at Rs 417.50 with a achieve of 9 per cent.

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