Shares of homegrown auto major Tata Motors rose nearly 4% today after the firm reported a 50 percent rise in passenger vehicle sales in December 2021. The stock has gained 5.33% in the last 2 days. The large cap stock opened 2.05% higher at Rs 492.25 today.
The share touched an intraday high of Rs 499.7 , rising 3.6% against previous close of Rs 482.35 on BSE. Tata Motors stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Tata Motors stock has risen 165% in one year and gained 2.75% since the beginning of this year. Total 8.08 lakh shares of the firm changed hands amounting to a turnover of Rs 40.31 crore on BSE.
The stock hit a 52-week high of Rs 536.50 on November 17, 2020 and a 52-week low of Rs 184.55 on January 1, 2021.
The company sold 35,299 units last month against 23,545 units in December 2020. In the third quarter ended December 2021, total passenger vehicle sales rose 44% to 99,002 units compared with 68,806 units sold in the corresponding period in the previous year.
“Tata Motors PV business growth journey continued and set several new milestones during the quarter despite witnessing a shortfall in production due to the ongoing semi-conductor crisis,” said Tata Motors President (Passenger Vehicles Business Unit) Shailesh Chandra.
A decade-high quarterly and monthly sales were recorded. In addition, the company also posted a calendar year sale of 3,31,178 units in 2021, the highest-ever since the inception of the PV business, he added.
The Tata Group firm reported a widening of consolidated net loss to Rs 4,415.54 crore in Q2 due to higher expenses and lower sales of British arm JLR following the shortage of semiconductors.
The company reported consolidated net loss of Rs 307.26 crore in the corresponding period of last fiscal. Revenue from operations stood at Rs 61,378.82 crore against Rs 53,530 crore in the year-ago quarter. Total expenses climbed to Rs 65,712.83 crore compared with Rs 54,982.77 crore a year ago. British arm Jaguar Land Rover clocked a revenue of 3.9 billion pounds with a pre-tax loss of 302 million pounds in the second quarter.
