New Delhi: Shares of Tata Motors today settled for the day with over 3 per cent gains after Jaguar Land Rover (JLR) reported solid retail sales growth across majority of key regions in November on a year-on-year basis.
The Jaguar brand recorded retail sales of 14,613 units in November, up 83 per cent, driven by continuing strong sales of the new XF and the F-PACE, JLR said. The month's performance has been driven by the new Jaguar XF (with the addition of the long wheel base XFL in China) and F-PACE as well as continuing solid sales of the Land Rover Discovery Sport and Range Rover Sport, it added.
Reacting to the numbers, the shares of Tata Motors ended in the positive territory with gains of 3.60 per cent at Rs 461.30 on the BSE. During the day, the stock had surged 4.39 per cent to an intra-day high of Rs 464.80.
On the NSE, the stock ended the day at Rs 461.25, up 3.57 per cent. The stock had jumped 4.27 per cent to an intra-day high of Rs 464.40. Commenting on sales performance, JLR Group Sales Operations Director, Andy Goss said: "These are solid results underpinned by encouraging performance in China, where our sales are growing healthily in an incredibly competitive environment."
The company said its retail sales grew across majority of key regions in November year-on-year, with China up 42 per cent and North America 20 per cent. It was partially offset by softer sales in the UK (down 13 per cent), Europe (down 6 per cent) and in other overseas markets, which include Russia and Brazil (down 25 per cent), the statement added.
