Tata Motors rallies 5% on robust Q3 nos
Tata Motors has rallied 5% to Rs 1,199 after reporting almost four-fold jump in its consolidated net profit to Rs 2,424 crore for the quarter ended December 31, 2010, beating market forecasts. Net profit in the year-ago period stood at Rs 650 crore profit.
Consolidated net sales for the quarter grew to Rs 32,544 crore, an increase of 22% over the Rs 26,678-crore net sales in the same quarter a year earlier. The higher sales were primarily due to strong demand and better realisations from JLR products.
The auto major standalone net profit stood at Rs 410 crore, a growth of 2.5%t, against Rs 400 crore in the year-ago period.
The stock opened at Rs 1,194 and hit high of Rs 1,204 on the NSE. Around one million shares have changed hands on the counter on opening deals.
source: Business Standard
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