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19 April, 2021 02:58 IST
Tata Motors rises 3% after December sales numbers
Source: IRIS | 04 Jan, 2021, 04.48PM
Rating: NAN / 5 stars.
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Tata Motors share price gained nearly 3% on January 4 after the automobile company announced its sales for the month of December.

Tata Motors on January 1 recorded a 21% increase in total vehicle sales in the domestic market to 53,430 units in December. The company had sold 44,254 units in the domestic market in the same month last year, Tata Motors said.

In domestic passenger vehicle (PV) segment, sales stood at 23,545 units last month as against 12,785 units in December 2019, up 84%, it added.

Tata Motors total commercial vehicle sales stood at 32,869 units in December 2020 as against 34,082 units in the same month last year, down 4%. Sales of CVs in the domestic market were at 29,885 units as compared to 31,469 in December 2019, down 5%, it added.

Commenting on the sales, Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said, "The PV industry continued to grow robustly in Q3 FY21, owing to pent up demand, strong festive season and shift towards personal mobility."

"The PV business of the company has been witnessing the strong response to its "New Forever" range, which is being supported by a continuous ramp-up of supplies," he added.

Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors said, "Tata Motors’ Commercial Vehicle domestic sales in Q3FY21 at 82,155 units was 48% higher than the previous quarter and recovered to be broadly in line with Q3FY20 ( - 3.5%). M&HCVs and ILCVs led the recovery, growing by 10% and 7% respectively over Q3FY20, with higher demand in infrastructure including road construction, mining and e-commerce. The off take continued to be higher than retail to support sequential month on month growth in retail while ensuring healthy inventory levels in the pipeline. We continue to monitor and work on the supply chain to improve availability, especially of electronic components, which impacted the output at the end of Q3."

Shares of Tata Motors are trading at Rs 191.25, up Rs 4.8, or 2.57% at the Bombay Stock Exchange (BSE) on Monday at 3:15 p.m.

The scrip has touched an intra-day high of Rs 193 and low of Rs 188.80. The total volume of shares traded at the BSE is 2,670,343.

In the earlier session, the shares rose 1.5%, or Rs 2.75, at Rs 186.45.

Currently, the stock is trading down 0.7% from its 52-week high of Rs 201.80 and above 200.71% over the 52-week low of Rs 63.60.
 



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