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Shares of Tata Motors hit over 3-month high, and was the top percentage gainer on the NSE index.
The stock surged as much as 4.5 per cent to Rs 468, its highest since July 24. The stock posted biggest intraday percentage gain since October 3.
Analysts cite speculation Tata Motors is due to post solid profit margins for the July-Sept quarter.
A “few funds have been bullish on the company since it has been underperforming for quite some time now, combined with the buzz that margin performance in this quarter will be pretty strong,” said Nitesh Sharma, research analyst with PhillipCapital (India).
The company is due to report its Sept-quarter results on Thursday.
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