Tata Motors rose as a lot as 9.1 per cent to hit contemporary 52-week excessive of Rs 417.3.
Shares of the mother or father of luxurious automobile maker Jaguar Land Rover – Tata Motors – rose as a lot as 9.1 per cent to hit contemporary 52-week excessive of Rs 417.3, extending their positive factors to 3rd straight session on Monday after the corporate knowledgeable exchanges that underlying demand for Jaguar Land Rover merchandise stays robust with order books at report ranges. The firm, nevertheless, warned that retail gross sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the influence of the worldwide semiconductor scarcity.
“Retail sales for the second quarter ending 30 September 2021 were 92,710 vehicles, 18.4 per cent lower than the 113,569 vehicles sold in Q2 last year. Retails were lower year-on year in most regions, including North America (-15.6 per cent), China (-6.3 per cent), Europe (-17.0 per cent), and in the UK (-47.6 per cent), but were up in our Overseas region (+10.0 per cent),” Tata Motors stated in a press launch.
Retail gross sales of all fashions had been decrease year-on-year except for the brand new Land Rover Defender, which retailed 16,725 automobiles, up 70.four per cent year-on-year, making it our bestselling mannequin within the quarter.
“The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through. However, it’s encouraging we were still able to grow sales of the Land Rover Defender in Q2. Moreover, we are delighted to have a record Company order book demonstrating the underlying demand for our products which we will satisfy when the semiconductor supply recovers,” Lennard Hoornik, Jaguar Land Rover Chief Commercial Officer
In the final three periods, Tata Motors shares have rallied 25 per cent, massively outperforming the Sensex which has superior 2 per cent.
As of 11:39 am, Tata Motors shares traded 9 per cent larger at Rs 417.50.