Millennium Post

Tata Motors’ scrip up by over 1% on sales data

Shares of Tata Motors rose by over 1 per cent on Monday after the auto major reported double-digit increase in total sales in January.

Besides, ratings agency Moody’s said that the company’s Rs 7,500 crore rights issue is credit positive as it will reduce debt and fund business growth.

Tata Motors’ stock gained 1.26 per cent to end the day at Rs 592.30 on the BSE. During the day, it climbed 1.83 per cent to Rs 595.70. On the NSE, the scrip settled with a gain of 1.21 per cent at Rs 592.25. In terms of volume, 2.73 lakh shares of the company changed hands at the BSE and more than 43 lakh shares were traded at the NSE during the day. Tata Motors reported double-digit increase in total sales at 42,582 units in January, as against 40,481 units in the same month last year.

Domestic sales of Tata commercial and passenger vehicles grew by 5.35 per cent at 38,621 units as compared to 36,657 units in January 2014, Tata Motors said in a BSE filing. Sales of passenger vehicles in the domestic market in January stood at 13,047 units, up 18.89 per cent from 10,974 units in January 2014.
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