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Tata Motors shares rose as much as 6.3 per cent to Rs 185.2 in their biggest intra-day per cent gain since March 5. The company's British luxury car unit, Jaguar Land Rover (JLR), on Friday reaffirmed expectations of a financially better fourth quarter.
JLR said it continued to execute a turnaround strategy to deliver 2.5 billion euros ($2.81 bln) of cash flow improvements by March 2020. More than 19.8 million shares changed hands, 1.1 times the 30-day moving average.
The stock has posted its highest gain since March 12. Fifteen of the 37 analysts covering the stock have “buy” or higher ratings, 18 “hold” and 4 “sell” or lower; median PT Rs 192 - Thomson Reuters data.
Up to Friday's close, the stock had declined 46.7 per cent this year.
The stock closed at Rs 187.15 , up Rs 12.85 (+7.37%) on the BSE. It closed at Rs 92.25, up Rs 6.70 on the NSE.
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