Indian automobile Tata Motors on Tuesday said that Jaguar Land Rover has grown by 24% in its wholesale sales globally in the second quarter of FY22. After this, the shares of the company jumped more than 5% in the stock market on Tuesday.
During the day’s trading, the stock had reached a price of Rs 435.65, which is its new high of 53 weeks. However, later its shares came down a bit. Tata Motors shares were trading at 420.60 with a jump of 1.18% on the NSE around 1:15 pm.
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Meanwhile, global brokerage firm Morgan Stanley has maintained an “overweight” stance on Tata Motors and has set a target price of Rs 448 for the stock.
Let us tell you that earlier on Monday also the shares of Tata Motors had jumped 8%. Shares of Tata Motors have climbed up to 21.74 per cent in just the last five trading sessions. On the other hand, if Tata Motors has given a return of about 39.61 percent in the last one month.
The company said that its global wholesale sales stood at 2,51,689 in the second quarter of FY 2022. In addition, global wholesales for all Tata Motors commercial vehicles and the Tata Daewoo range stood at 89,055 in Q2, up 57% over the same quarter last year.
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Global wholesales of all passenger vehicles stood at 1,62,634 in Q2 of FY22, an increase of 11 per cent over the corresponding quarter of the previous fiscal. Meanwhile, Jaguar Land Rover’s global wholesales stood at 78,251 vehicles.
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