Tata Motors rallies greater than 8 p.c after firm says order e book at report stage

Tata Motors rose 9.1 per cent to hit a brand new 52-week excessive of Rs 417.3.

Shares of luxurious carmaker Jaguar Land Rover’s dad or mum – Tata Motors – rose 9.1 per cent to hit a brand new 52-week excessive of Rs 417.3 on Monday after the corporate knowledgeable exchanges . Land Rover merchandise for Jaguar proceed to be sturdy with the order e book at report ranges. Nevertheless, the corporate warned that Jaguar Land Rover’s retail gross sales for the three months ended September 2021 have been hampered by the affect of world semiconductor shortages.

“Retail gross sales for the second quarter ended 30 September 2021 have been 92,710 autos, down 18.4 p.c in comparison with 113,569 autos bought in Q2 final 12 months. Retail gross sales throughout most areas, together with North America (15.6 p.c), have been down year-on-year. The 12 months was low, in China (-6.3 per cent), Europe (-17.0 per cent), and the UK (-47.6 per cent), however have been up in our abroad area (+10.0 per cent),” Tata Motors mentioned in a press launch.

Retail gross sales throughout all fashions have been down year-on-year apart from the brand new Land Rover Defender, which grew 70.4 per cent year-on-year to 16,725 autos, making it our bestselling mannequin for the quarter.

“The worldwide semiconductor provide difficulty represents a major near-term problem for the trade that may take time to work by means of. Nevertheless, it’s encouraging that we have been nonetheless capable of improve Land Rover Defender gross sales in Q2. As well as, we’re happy to have a report firm order e book reflecting the underlying demand for our merchandise which we’ll fulfill as semiconductor provide recovers,” mentioned Lenard Hornick, Jaguar Land Rover’s Chief Industrial Officer.

Prior to now three periods, Tata Motors shares have risen 25 per cent, outperforming the Sensex by an enormous 2 per cent acquire.

Until 11:39 am, Tata Motors shares have been buying and selling at Rs 417.50 with a acquire of 9 per cent.

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