Shares of Tata Motors Ltd are headed toward their 52-week high in Tuesday’s trade after the Indian auto giant said Jaguar Land Rover’s (JLR’s) sales climbed 11 per cent in the March quarter from a year earlier to 114,038 units, led by production and sustained global demand. JLR is a wholly owned subsidiary of Tata Motors.
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Tata Motors shares gained 1.64% to Rs 1,029.60 against the previous close of Rs 1012.95 on BSE. The stock touched its 52 week high of Rs 1065.60 on March 5, 2024. The multibagger auto stock has climbed 132.48% in a year and risen 28.68% this year. Tata Motors stock hit a 52-week low of Rs 450.05 on April 10, 2023.
On BSE, around 2.06 lakh shares changed hands amounting to a turnover of Rs 21.07 crore today. Market cap of the firm rose to Rs 3.38 lakh crore.
Tata Motors stock has a one-year beta of 0.5, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Tata Motors stood at 61.8, signaling it’s trading neither in the overbought nor in the oversold zone.
Tata Motors shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
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“Retail sales for the fourth quarter came at 114,038 units (including the Chery Jaguar Land Rover China JV), up 11 per cent compared to the same quarter a year ago and up 4 per cent compared to the quarter ended December 31, 2023. Compared to the prior year, retail sales in the quarter were up 32 per cent in the UK, 21 per cent in North America, and 16 per cent overseas. Compared to the prior year, retail sales in China were down 9 per cent and down 2 per cent in Europe for the quarter,” said Tata Motors post market hours on Monday.
Wholesale volumes were 401,303 and retail sales were 431,733, up 25 per cent and 22 per cent in FY24, respectively, compared to the prior year.
“Wholesale volumes of 110,190 units in the fourth quarter (excluding the Chery Jaguar Land Rover China JV) were up 16% compared to the same quarter a year ago and up 9% compared to the quarter ended 31 December 2023,” the carmaker said in communication to bourses.
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Wholesale volumes increased in Q4 for Range Rover (up 22 per cent to 58,280 units), Defender (up 5 per cent to 28,702 units), Jaguar (up 39 per cent to 13,528 units) and Discovery (up 1 per cent to 9,680 units), added Tata Motors.
