Good April sales boost Tata Motors shares

The Dollar Business Bureau

The shares of Mumbai based automotive maker, Tata Motors, shot up by 3% after the company witnessed growth in sales by 9.9%.

Breaking its record trading for 36,190 units in April 2015, Tata sold 39,763 units in April 2016, revealed the monthly sales volume data announced by Tata Motors, on Monday after peak market hours.

After recording good sales, the shares of Tata at the Bombay Stock Exchange (BSE) saw a hike of 3.57% to Rs 421.85. Meanwhile, the National Stock Exchange (NSE) shares of the firm climbed 3.5% to Rs 422.

The total sales, including passenger and domestic automobiles, in India stood at 35,978 units in April 2016, which is a 11% increase over the 32,404 units sold in April 2015.

The monthly data released by Tata Motors, a subsidiary of Tata group, revealed that sales of utility vehicles in India, recording 7.9% growth, stood at 11,161 units, against 10,341 units sold in same period a year ago.

The sales for passenger cars touched 9,451 units, a sharp rise of 5.9% in comparison to the same period in 2015.

The commercial segment of sales witnessed rise of 13.3% to 25,138 units, when compared to April 2015.