Tata Motos in the fifth gear!

Tata Motors has hit a new 52-week high today, once again, at Rs.555.50 and it continues to remain around Rs.554 levels.

The stock has been hitting new highs consistently despite the not-so-good show for Q1FY17 as the buzz around the stock, created mainly by the FIIs and fund houses is very positive. And this air of optimism continues as it yesterday reported a fantastic performance for August. Its luxury car brand, Jaguar Land Rover (JLR) showed a 46% (YoY) jump in US sales in August at 9,329 vehicles. The sales was driven mainly by its newly launched F-PACE and XE.

And the pleasant surprise was that its passenger sale in Indian market, which has been lagging consistently; it was actually strong this August, up 16% at 13,002 units but that of commercial vehicles fell 3%.

Domestic sales grew by 3% while exports increased 27% to 6,595 vehicles. Medium & heavy commercial vehicle (M&HCV) sales declined 17%. Light commercial vehicles sales were up 10% at 13,495 units.