Tata Motors shares continued the rally for the fourth consecutive day on Tuesday after the automaker reported 24 per cent higher global wholesale numbers for the September quarter.
These figures are higher in comparison with the same period a year ago.
According to NDTV, the automaker’s stock increased as much as 5 per cent intraday on Tuesday to Rs 435.65, its highest level since 2018.
The company’s global wholesales of commercial vehicles and Tata Daewoo range in the second quarter were at 89,055 units, up 57 per cent over the same period in 2020.
On Monday, Tata Motors said in a statement that global wholesales of all passenger vehicles in the September quarter of the current fiscal rose 11 per cent to 162,634 units over the corresponding quarter of the previous fiscal. The global sales of JLR stood at 78,251 vehicles in the September quarter, which comprised 13,944 units of Jaguar and 64,307 units of Land Rover.
In the meantime, analysts feel that Tata Motors looks better in comparison with other automakers considering the shortage in semiconductors across the globe in the auto sector.