In a boost for all investors, Tata Motors share price touches 52-week new high
Tata Motors shares hit a 52-week high of 435.65 and were trading at 423.40, up 7.75 per cent or 1.86 per cent on the BSE.
Tata Motors has reported a 24 per cent rise in group worldwide wholesales, including Jaguar Land Rover, to 2,51,689 units in the September quarter of FY22 compared to the same period last year. Tata Motors shares hit a 52-week high of 435.65 and were trading at 423.40, up 7.75 per cent or 1.86 per cent on the BSE. At 11:30 a.m. on the NSE, it was trading at 421.50, up 5.75 per cent or 1.38 per cent.
Tata Motors said in a statement that global wholesales of all commercial vehicles and the Tata Daewoo range were 89,055 units in Q2FY22, a 57 per cent increase from Q2FY21. Global wholesales of all passenger cars climbed 11% to 1,62,634 units in the September quarter of the current fiscal year compared to the comparable period of the previous fiscal year.
According to the announcement, retail sales for the second quarter ending September 30, 2021, were 92,710 automobiles, a reduction of 18.4 percent from the 113,569 vehicles sold in the same time the previous year. It added that sales were down year on year in most regions, including North America (-15.6 per cent), China (-6.3 per cent), Europe (-17.0 per cent), and the United Kingdom (-47.6 per cent), but up in our Overseas region (+10.0 per cent).
According to Tata Motors, worldwide wholesales of all passenger vehicles climbed 11 per cent to 162,634 units in the September quarter of the current fiscal year compared to the similar period of the previous fiscal year. JLR sold 78,251 automobiles globally in the September quarter, including 13,944 Jaguars and 64,307 Land Rovers.
Meanwhile, analysts believe that Tata Motors appears better than other automakers, given the global scarcity of semiconductors in the vehicle sector.