Tata Motors speeds up

Tata Motors is doing very well today morning. The stock is currently up almost 3% at Rs.378.45, its current intra day high. Its 52-week high is at Rs.405.

The stock zoomed up the moment is opened up from trade today morning after the company UK unit, JLR reported having sold a record 425,006 vehicles in 2013 due to growing demand for its luxury vehicles in all major markets including in China, North America and Europe. Sales in the past year climbed 19% helped by products such as the Range Rover Evoque and Jaguar XF and XJ sedans. This has been the strongest full-year sales performance since 2005. And to capitalize on the strong sales, the company plans to increase its investment in new technology, plants and models to more than $5.7 billion in the next fiscal.