Tata Motors stock hits 52 week high on strong JLR sales

Tata Motors stock on Monday rose to its 52-week high after the firm said its global wholesales, including Jaguar Land Rover (JLR), stood at 80151 in July 2014. Global wholesales for JLR reached 39,467 vehicles in July.

At 2:32 pm, the stock was trading at 501.95 levels. Earlier, the stock hit 52-week high of 502.15 on the BSE.

The stock closed at 503.90 or 3.98 per cent higher on the BSE.

On August 11, Tata Motors reported tripling of its first-quarter net profit on surging sales of even as the company reported a drop in domestic sales.

Surging sales of Jaguar Land Rover (JLR) vehicles overseeas enabled Tata Motors triple its first-quarter net profit even as the company reported a drop in domestic sales. Consolidated net profit rose to Rs 5, 398 crore, the highest in nine quarters, compared with Rs 1,726 crore in the same period last fiscal.