Tata Motors gained 4% to Rs 467 on the BSE after the company reported 2% increase in total passenger and commercial vehicle sales in February at 47,573 units compared to 46,674 in the same month last year. The company had recorded 1% year on year decline in total sales in the month January.
Domestic sales of Tata Motors’ commercial and passenger vehicles were at 42,679 units in February as against 41,532 units in the same month last year, up 2.76 per cent, the company said in a BSE filing.
The company’s bus sales continued to grow by 30% in February 2017, driven particularly by State Transport Undertaking (STU) orders, supported by intercity and staff application segments. Demand from schools is also gaining momentum, it added.
Improved consumer sentiments, waning effect of demonetization and aggressive push by the market players has led to recovery of Small & Light Commercial Vehicles (S&LCV) segment volumes, this month, the company said.
At 9:42 am; the stock was up 3.4% at Rs 464, the biggest gainer among Sensex and Nifty 50 index. A combined 4.8 million shares changed hands on the counter on the BSE and NSE so far.
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