Tata Motors, India's largest automobile company and leader in commercial vehicles across segments witnessed a rise in share price on Monday on buzz that Tata Motors-owned Jaguar Land Rover (JLR) launched a new 4.5 billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China.

A leading daily reported, "The project - known as Leap 4.5 - will scrutinise almost every area of spending at Britain’s luxury car manufacturer."

"The 3-billion-a-year pounds capital budget, focused on research and development and new plants, will be spared. JLR has one of Britain’s biggest success stories since it was bought over by Tata Motors from Ford in 2008 and made 2.6-billion pounds profit last year, has almost 37,000 staff and builds about 500,000 cars a year," it added.

The JLR revenues for the quarter ended September 30, 2015 stood at GBP 4.83 billion, against GBP 4.81 billion for the corresponding quarter last year reflecting higher wholesales notably in UK (up 30% year-on-year), mainland Europe (up 20% year-on-year) and US (up 65% year-on-year) which helped offset weaker sales in China and other emerging markets.

The company has incurred an one time expense of GBP 245 million for about 5,800 vehicles involved in the Tianjin Port explosion.

The company has strongly said that it will continue the 3 billion-a-year pounds spending on R&D and new plant and equipment.

Shares of Tata Motors are trading at Rs 402.80, up Rs 6.55, or 1.65% at the Bombay Stock Exchange (BSE) on Monday at 11:56 a.m.

The scrip has touched an intra-day high of Rs 409.85 and low of Rs 372.00. The total volume of shares traded at the BSE is 1,130,677.