Shares of this Tata Group stock gained up to 2.70 percent today and hits 52-week high after strong sales growth of its wholly-owned subsidiary company. In the past six months, the stock has surged over 50 percent from Rs 412.90 at the start of 2023 to the current price level.
With a market capitalization of Rs 2,06,000 crores, the stocks of Tata Motors Limited are currently trading at Rs 620. The scrip witnessed an intra-day high price of Rs 634.80, also recorded as the fresh 52-week high price, indicating a gain of around 2.70 percent compared to the previous closing levels of Rs 618.20.
In a recent filing with the Bombay Stock Exchange (BSE) dated 7th July 2023, the company provided the sales report of Jaguar Land Rover (JLR), its wholly-owned subsidiary based in the United Kingdom (UK), for the first quarter of FY23-24.
The wholesale volumes were reported to be 93,253 units, a 30 percent increase compared to the same period a year ago. The numbers are excluding the Joint Venture (JV) between Chery and JLR.
In addition to the above, the retail sales, excluding the JV mentioned above, were reported at 101,994 units representing an increase of 29 percent compared to the same period a year ago.
The company’s order book remains strong at 185,000 units with strong demand coming for models including Defender, Range Rover, and Range Rover Sport comprising more than 75 percent of the order book.
Having a look at the consolidated financials, the company, on a YoY basis, has increased its operating revenues from Rs 278,453 crores during FY21-22 to Rs 345,966 crores in FY22-23. Moreover, it took a turnaround as far as the net profit figures are concerned and reported profits of Rs 2,353 crores during FY22-23 as compared to losses of Rs 11,234 crores in the previous financial year.
The latest shareholding pattern data exhibits the Promoters holding a 46.39 percent stake (1.82 percent pledged), and Foreign Institutional Investors (FIIs) holding a 15.34 percent stake in the company.
Tata Motors Limited is a company involved in the manufacturing of Automobiles. It operates in the ‘Automotive’ segment with sub-segments including Passenger Vehicles, Commercial Vehicles, Jaguar Land Rover (JLR), etc.
Apart from the above, it also engages in Insurance Broking and IT services. The company derives a majority of its revenue from domestic operations within India.
Written by Amit Madnani
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