Tata Motors shares surged by over 3 per cent, reaching a new all-time high of Rs 621.50 on Friday backed by the company's robust performance in Jaguar-Land Rover sales during the April-June quarter, reported MoneyControl. 








Tata Motors' luxury brand, Jaguar-Land Rover, reported an increase in wholesale volumes for the first quarter, reaching 93,253 units (excluding the Chery Jaguar Land Rover China JV), a 30 per cent year-on-year growth, as per the report. Furthermore, retail sales saw a significant rise of 29 per cent, totaling 101,994 units (including the Chery Jaguar Land Rover China JV). 








Compared to the previous fiscal year, Tata Motors reported a rise in retail volumes, with the highest growth seen in overseas markets at 83 per cent, followed by North America (up 42 per cent), China (up 40 per cent), and the UK (up 6 per cent). However, the European market remained stagnant.


Additionally, the automaker also highlighted the strength of its order book, with over 185,000 client orders at the end of the quarter, backed by a gradual improvement in chip and other supply constraints. Notably, there was significant demand for models such as Range Rover, Range Rover Sport, and Defender, accounting for 76 per cent of the order book.


Also Read: Stock Market: Sensex Plunges 505 Points, Nifty Settles Below 19,350 On Weak Global Cues. PSU Banks Rally


At the closing bell, Tata Motors' shares were trading at Rs 618.45, rising 2.94 per cent on the S&P Sensex 30 share platform. 


The two key equity benchmarks, Sensex and Nifty, on Friday, dived into negative territory due to profit booking amid rate hike fears by the US Federal Reserve, denting investor sentiment. The S&P BSE Sensex plunged 505 points to settle at 65,280. The index hit an intra-day low of 65,176. On the other hand, the Nifty50, sank below the 19,350 mark to close at 19,332, down 165 points. The index's intra-day low was 19,304.


As the upcoming earnings season approaches, investors will closely monitor Tata Motors' quarterly earnings performance. Anticipation is high as Jaguar-Land Rover (JLR) forecasts a positive free cash flow of over £400 million in the first quarter of FY24, based on preliminary cash balances.


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