Tata Motors got off to a positive start this morning, rising nearly a percent, but switched direction and slipped into negative territory subsequently. However, the stock raced higher again to hit a high of 438.85 nearly an hour past noon. The stock is currently up 2.75% at Rs 437 on BSE.
On BSE, the counter has clocked a volume of about 9,88 lakh shares so far in the session. This is 2.1 times more than the average daily volume seen at the counter over the last couple of months. On the National Stock Exchange, the Tata Motors counter has clocked a volume of nearly 10.2 million shares so far in the session.
Tata Motors turned in a fine performance in December 2017, recording a sharp 52% jump in commercial and passenger vehicles sales, compared to sales in the same month a year earlier.
Tata Motors sold 54,627 units in the month, up from 35,825 units in December 2016. The impressive increase was due largely to rising demand for vehicles across segments, new launches that included Hexa, Tigor, Tiago and Nexon, and strategic customer intiatives, the company said.
The automobile major sold 14,180 units in December 2017 in the passenger vehicles segment, about 31% more over sales in December 2016. The sales recorded in December was the highest in the passenger vehicles segment since 2012. In the retail segment, the company recorded its best sales in December in the last six years.
In the Utility Vehicles segment, sales soared over 400% in December 2017, compared to December 2016. Cumulative sales growth of passenger vehicles in the domestic market in nine months to December 2017 stood at 129,229 units, an increase of 15% over sales clocked in the corresponding period in the previous year.
In the domestic market, the company sold 40,447 units in the commercial vehicles segment, a sharp growth of 62% compared to 24,998 unis in December 2016. Continued uptick in sales and production ramp-up of the new range of BS4 vehicles contributed to the growth. In the nine months to December 2017, the company sold nearly 2.7 lakh units in the commercial vehicles segment, up 17% over sales in the corresponding period a year earlier.
The MHCV truck segment saw a jump of 83% in sales in December 2017, over last year. Increasing demand for the new tonnage vehicles, infrastructure development led by government funding and keen focus on customer requirements has helped reviving the MHCV performance.The ever-increasing positive customer response to the superior range of Tata Motors' BS4 vehicles complemented by the success of the company's innovative SCR technology led to the growth.
Sales in the I&LCV truck segment and the pick-up segments grew 78% and 87%, respectively. In the SCV segment, sales grew 60% over sales in December 2016. The Commercial Passenger carrier segment registered a 19% rise in sales.
Tata Motors' exports too grew sharply, rising 26% to 6044 units in December 2019, and sales recorded in the month was the highest in the year.