Tata Motors shares gained over 8 per cent on sales data for September and reports that its Jaguar Land Rover unit’s US sales surged.
Tata Motors rallied on Monday after reports emerged that PSA Peugeot Citroen and Tata Motors are in talks to form a partnership that might result in Tata producing and distributing the French giant’s cars in the Indian market.
The stock was the top gainer on both Sensex and Nifty.
The shares also got a a boost after the company’s September MHCV sales beat estimates, while unit Jaguar Land Rover US Sept sales rose 61 per cent.
At 1.22 pm, Tata Motors shares were trading 6.87 per cent up at Rs 317.40. The Sensex was up 432.99 points at 26,653.94 during the same time.
Shares of Tata Motors jumped 8.41 per cent to Rs 322 on BSE in early trade. On the NSE, shares of the company surged 8.17 per cent to Rs 322.10.
Tata Motors’ sales of passenger cars in September were higher by 5 per cent at 10,226 units, as compared to 9,766 units in same period of last year.
Meanwhile, BSE has sought clarification from Tata Motors with reference to news of Peugeot. As per media reports, the company is in talks with PSA Peugeot Citroen to form a partnership that might result in Tata producing and distributing the French giant’s cars for
the Indian market.
With PTI and Reuters inputs
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