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Shares of Tata Motors surged over 7 per cent in morning trade today, a day after the company reported a 40.5 per cent jump in consolidated net profit for the third quarter ended December 31, 2011.
After a firm opening, the shares rose 7.26 per cent to touch a one-year high of Rs 287.35 on the BSE. Similarly, on the NSE, the stock jumped 7.24 per cent to Rs 287.35.
The stock was the best performer among the blue-chip scrips both on the BSE and NSE in the morning trade.
Tata Motors had yesterday reported a 40.5 per cent jump in consolidated net profit to Rs 3,405 crore for the third quarter ended December 31, 2011 on the back of better performance by British division Jaguar Land Rover.
The rally in Tata Motors scrip was in tandem with the bullish broader market, where the BSE barometer Sensex was trading at 18,119.65, up 271.08 points at 11.25 am.
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