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Tata Motors rises on ADR gains, hopes of higher JLR sales

Source : REUTERS
Last Updated: Thu, Dec 13, 2012 06:08 hrs
Range Rover is seen during the IAA Auto Show in Frankfurt

Shares in Tata Motors gain 2.7 percent, tracking optimism ahead of its Jaguar Land Rover unit's wholesale volume numbers, which are scheduled to be released later in the day, dealers say.

Shares are also tracking a 3.4 percent gain in the company's American depository receipts on Wednesday.

Nomura expects wholesales volumes to be higher, at around 32,500 units, due to new model dispatches, it said in a report.

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