Tata Motors speeds up

Tata Motors is on good roads today, with the stock currently up over 3% at Rs.375, with an intra day high at Rs.382.45. Its 52-week high stands at Rs.405.

The stock is up on the back of its very good performance for Q3Fy14 wherein consolidated net profit rose three times to Rs.4805 crore on a 39% rise in net sales at Rs.63,536 crore. This performance was driven largely by stellar numbers from JLR and an exceptional income of Rs.1948 crore, which was on account of sale of investments in foreign subsidiaries. Quarterly profits for JLR stood at 619 million pounds on revenues of 5.33 billion pounds. JLR’s performance improved due to a better product mix like the new models of Land Rover like Range Rover Evoque and Jaguar's F-Type. These new models have done well and much better contributions from China too added to the good numbers.