Tata Motors shares jump 6%; market valuation climbs Rs 7,859.89 crore

Shares of Tata Motors jumped 6 per cent on Tuesday after the company-owned Jaguar Land Rover reported a 15 per cent increase in wholesales to 79,591 units for the third quarter ended December 2022.

The stock rallied 6.07 per cent to settle at Rs 413.05 apiece on the BSE. During the day, it climbed 7.26 per cent to Rs 417.70.

On the NSE, it gained 5.91 per cent to end at Rs 412.50 per share.

It was the biggest gainer among the Sensex and Nifty components.

The company's market valuation also zoomed Rs 7,859.89 crore to Rs 1,37,185.89 crore on the BSE.

In volume terms, 19.60 lakh shares of the firm were traded on the BSE and over 5.40 crore shares were traded on the NSE during the day.

In the broader market, the 30-share BSE Sensex tanked 631.83 points or 1.04 per cent to settle at 60,115.48.

The company's retail sales for the third quarter stood at 84,827 units, up 5.9 per cent compared to the year-ago period, it said in a regulatory filing on Monday.

Jaguar Land Rover (JLR) said it continues to see strong demand for its vehicles.

"As at December 31, 2022, the total order book increased to 2,15,000 client orders, up around 10,000 orders from September 30, 2022. Demand for the New Range Rover, New Range Rover Sport and Defender remains strong and represents 74 per cent of the order book," it added.