Tata Motors hits new high

Tata Motors, which had closed yesterday at Rs.220.10 shot up to hit a new 52-week high at Rs.242.10, which is also its 10% UC. The stock and Tata Motors DVR are both among the top five gainers on the BSE since opening bell today.

The stock price rose on the back of a reported a recovery in Jaguar Land Rover sales in the December quarter, a jump of 13% (QoQ) at 113,569 vehicles but YoY, it was down 9%.

The market was more buoyed by the encouraging sales in China, up over 20% (QoQ) and up 19% (YoY).

Its retail sales in North America were also up 32% (QoQ) and Europe up 20.5%.

Following this, many fund houses have put out reports, upping their rating and targets and that too has pushed up the stock price significantly.