Tata motors share price surges after company announces higher global wholesales

#BSE #Jaguar #LandRoverIndia

Tata Motors announced 24 percent higher worldwide wholesale numbers for the September quarter
Tata Motors has been one of the strongest bluechip equities this year
Rakesh Jhunjhunwala owns approximately 3.77 crore shares in Tata Motors

Written By:Yash

Updated: October 11 2021 10:36:02 PM ET

Tata Motors share price rose for the fourth consecutive session On October 12, after the firm announced 24 percent higher worldwide wholesale numbers for the September quarter compared to the year-ago period. In the early session on the BSE, Tata Motors hit a 52-week high of Rs 432 and was trading at Rs 430.40, up Rs 14.75, or 3.55 percent.

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According to a press release, Tata Motors Group’s global wholesales in Q2FY22, which included Jaguar Land Rover, were 2,51,689, a 24 percent increase from Q2FY21. In Q2FY22, global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range were 89,055, up 57% from Q2FY21, and passenger cars were 1,62,634, up 11% from Q2FY21.

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Jaguar Land Rover’s global wholesales were 78,251 units (JLR number for Q2FY22 includes CJLR volumes of 14,219 units). According to the company, Jaguar wholesales totaled 13,944 automobiles in the third quarter, while Land Rover wholesales totaled 64,307 vehicles.

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Meanwhile, Tata Motors said on Friday that underlying demand for Jaguar Land Rover is still robust, with order books at record levels. However, it cautioned that retail sales of Jaguar Land Rover were being hampered by a global semiconductor shortage.

Tata Motors has been one of the strongest bluechip equities this year, with the stock more than doubling from its December 31 closing price of 183.70. From the shutdown low of 63.60 on March 24, 2020, Tata Motors stock has increased nearly seven times.

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According to BSE statistics, Rakesh Jhunjhunwala owns approximately 3.77 crore shares in Tata Motors, representing a 1.14 percent stake in the business. Tata Motors was one of the biggest gainers in the Nifty 50 basket of stocks as of 1:30 p.m. today, up 1.26% to 421.