Strong JLR October sales push Tata Motors shares by nearly 7%

New Delhi: Shares of Tata Motors surged nearly 7 percent Tuesday after the company-owned Jaguar Land Rover (JLR) reported 11 percent increase in October retail sales.

The stock soared 6.49 percent to end at Rs 540.20 on BSE. Intra-day, it advanced by 6.88 percent to Rs 542.25.

On NSE, it rose by 6.68 percent to end at Rs 540.20.

In terms of volume, 11.95 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The stock was the top performer among the bluechips on both Sensex and Nifty.

Tata Motors-owned Jaguar Land Rover (JLR) yesterday reported 11 percent increase in October retail sales of 46,325 units.

The month's performance has been driven by strong sales of the Land Rover Discovery Sport, Range Rover Evoque, Jaguar XF and the introduction of the Jaguar F-PACE, as well as strong year-on-year sales growth in China and Europe, JLR said in a statement.