Tata motors registered their highest ever jump in share value in 19 years time on the back of an increase in the demand for luxury SUVs and Sedan which also led to the company making substantial profit in the first quarter.
For the quarter ended June, Tata, owner of the Jaguar Land Rover brand posted a net income of 19.9 billion rupees which translates to $430 million. The figure for last year same quarter had been a loss of 3.3 billion rupees. The recorded increase in sales has therefore been 268.8 billion rupees which works out to a whooping 64 percent increase. There was a gain by 5.9 percent with the increase in sales of the Jaguar Land Rover cars and this even prompted BMW AG as well as Daimler AG forecasting rise in their profit margins.
Rattan Tata the chairman of the Tata groups is to retire in 2012 and his final aim is to open up Land Rover factories in India and China. A Mumbai based analyst Vaishali Jajoo writing for the Angel Broking Ltd descried the profit as good and the land Rovers performance in the market as “substantially good”. She even added that analysts had claimed a profit between the range of 11 billion rupees and 19 billion rupees.
The share value of Tata Motors headed by Carl-Peter Forster rose to 957.3 rupees. This has been the highest ever since January 1991. There has been an increase by 21 percent in the share value for Tata motors as per Bloomberg. This has been the third best performance in benchmark Sensex index.
Source: 4wheelsnews
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TATA tried to sell cars in Australia but they didn’t do any good, so the dealerships closed up. I think they were seen as an unproven brand, too expensive for what they were offering and as such deemed as not value for money so the public were not willing to pay Japanese car prices (with the Japanese having a long history of proven makes and models) to an unknown third world car manufacturer.