Tata Motors shares hit 52-week high after JLR posts 27% yoy increase in sales

Shares of Tata Motors jumped over 3% to ₹809.20 per share, to hit 52-week high on Tuesday, January 9, propelled by robust performance from Jaguar Land Rover (JLR), which reported its most substantial wholesale figures in 11 quarters during the October-December period.

The company's luxury car division, JLR, recorded a 27 percent growth in vehicle sales during the December quarter of the fiscal year 2024 compared to the corresponding period in the previous year.

By 2 pm, the NSE witnessed a trading volume exceeding 1.06 crore shares, with a corresponding traded value totaling ₹851.40 crore.

Meanwhile, Motilal Oswal reaffirmed its recommendation ‘buy’ on Tata Motors stock, setting a price target of ₹800. 

This represents a 14% potential upside from the Monday closing price of ₹789.