Shares in Tata Motors rose to their highest level in more than 19 years

Article by Christian A., on August 30, 2010

After Tata Motors Ltd. posted a first-quarter profit on demand for luxury SUVs and sedans, its shares increased to their highest level in over 19 years. Tata, the owner of Jaguar Land Rover, posted a net income of 19.9 billion rupees ($430 million) in the quarter that ends in June.

A year earlier, it reported a loss of 3.3 billion rupees. Sales increased by 64% to 268.8 billion rupees.

In Mumbai, Tata Motors gained 5.9% after Jaguar Land Rover benefited from an improvement in luxury-vehicle sales that also led to BMW AG and Daimler AG raising their profit forecasts.

Chairman Ratan Tata, who will retire in 2012, aims to open Land Rover factories in India and China. Vaishali Jajoo, a Mumbai-based analyst at Angel Broking Ltd., described the profit numbers to be good.

Jajoo also said that Jaguar Land Rover's performance is substantially good. She asserted that analysts had predicted that profit will be between 11 billion rupees and 19 billion rupees.

Tata Motors, which is headed by Carl-Peter Forster, the former European head of General Motors Co., rose to 957.3 rupees, the highest since January 1991, according to data compiled by Bloomberg.

Shares have increased by 21% this year, the third-best performance in the benchmark Sensex Index, which has advanced 4.3%.

Topics: tata motors, shares

If you liked the article, share on:

Comments

Recommended

You probably heard about Ford’s CEO Mark Fields’ departure from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by...
by - May 28, 2017
A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries