Tata Motors hits life time new high
Tata Motors hit a new high on 7th at Rs.423.60, yesterday it hit another new high at Rs.435 and today once again, it has hit a new life time high at Rs.437.70. Currently, profit booking has come in and the stock has slipped into the red, just a tad red.
The stock has been hitting new highs on the back of good performance expected from JLR, which did come in as expected yesterday. The company’s UK arm, JLR reported very good car sales for the first quarter of 2014. It sold 1,24,776 vehicles, up 8% (YoY). In terms of FY14 numbers, JLR’s rise was muted – little less than 3% (YoY).
Jaguar sales rose 19% and this was mainly on account of the 23% growth in its XJ model. Incremental sales of its F type model also helped. China, geographically, showed the best growth – 34%, followed by Asia Pacific at 28% and US growing 20%.