Tata Motors gains on reporting 21% growth in October sales

Tata Motors is currently trading at Rs. 516.55, up by 2.55 points or 0.50% from its previous closing of Rs. 514.00 on the BSE.

The scrip opened at Rs. 511.70 and has touched a high and low of Rs. 519.50 and Rs. 506.00 respectively. So far 236287 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 598.60 on 07-Sep-2016 and a 52 week low of Rs. 266.00 on 11-Feb-2016.

Last one week high and low of the scrip stood at Rs. 539.15 and Rs. 510.65 respectively. The current market cap of the company is Rs. 149340.61 crore.

The promoters holding in the company stood at 33.00%, while institutions and non-institutions held 40.58% and 7.95% respectively.

Tata Motors’ passenger and commercial vehicle total sales (including exports) in October 2016 were at 52813 vehicles, a growth of 21%, over 43,486 vehicles sold in October 2015. The company’s domestic sales of Tata commercial and passenger vehicles for October 2016 were at 46,480 units, a growth of 19%, over October 2015. Cumulative sales (including exports) of the company for the fiscal was at 311,629 units, higher by 9% over 286,048 vehicles, sold last year. The company continued to witness year-on-year growth in certain key segments in October 2016, with the company’s passenger vehicles growing by 28%, recording highest sales in last 4 years.

The Company’s Commercial Vehicles business recorded the highest sales in this year, grew by 15% and LCVs continued to grow by 21%, due to strong demand in festive season. The MHCV sales reversed the trend and grew by 9% after four months of decline. The Export business grew by 39% on account of strong demand for Tata Motors’ commercial vehicles. In October 2016, Tata Motors’ passenger vehicles, in the domestic market, recorded highest sales in the last four years at 16,311 units, with a growth of 28%, compared to 12,747 units, sold in October 2015. The passenger car sales continued its growth momentum due to strong demand for the recently launched Tata Tiago with retails showing an increasing trend. Cumulative sales growth of all passenger vehicles in the domestic market, were 88,976 units, a growth of 15%, compared to 77,465 units, in October 2015. 

Furthermore, the Commercial Vehicles domestic business recorded highest sales this year, in October 2016, in the domestic market with a growth of 15%, at 30,169 units, compared to October 2015. While the sales of Light Commercial Vehicles continued to grow strongly in the domestic market by 21% over October 2015, M&HCV sales saw a strong recovery and grew by 9% in October 2016 after four months of decline from June 2016. MHCV demand saw an improvement across various sectors including construction, auto logistics, cement, petroleum products and FMCG / consumer durables segments. Cumulative sales of commercial vehicles in the domestic market for the fiscal were at 184,851 units, higher by 5% over last year.

The company’s sales from exports were at 6,333 units, in October 2016, a growth of 39% compared to 4,569 vehicles sold in October 2015. The cumulative sales from exports for the fiscal were at 37,802 units, higher by 15%, over 32,770 units, sold last year.