JLR sales to drive Tata Motors

Shares of Tata Motors, which zoomed to a record high of ₹434 after Citigroup raised its price target to ₹486 from ₹421, will remain active at the bourses, thanks to impressive Jaguar Land Rover sales. According to the company, sales of JLR surged 8 per cent in January-March to 1,24,776 vehicles, over the year-ago period. Sales in March were at 55,183, up 3 per cent versus the corresponding period last year. Citi expects JLR to become the world's fourth biggest luxury carmaker on new launches in the next 15-18 months.