Strong global vehicle wholesales help Tata Motors' shares surge more than 8 pc

Mumbai (Maharashtra) [India], April 10 : On BSE, the shares of Tata Motors and Tata Motors DVR (Differential Voting Rights) went up more than 8 per cent during the early session of Monday's intra-day trade after the leading homegrown automobile company announced that its group wholesales surged 8 per cent to 3,61,361 units in fourth quarter of financial year 2022-23 (Q4 FY23), as compared to Q4 FY22.

At 2.10 pm, Tata Motors' shares were trading at 5.13 per cent up at Rs 460.30 apiece while Tata DVR's shares surged 5.34 per cent to Rs 228.65 apiece.

In a span of five days, Tata Motors rose 11.11 per cent whereas Tata Motors DVR went up 9.53 per cent on BSE.

According to a statement shared with exchanges on Friday, Group global wholesales in Q4 FY23, including Jaguar Land Rover, were at 3,61,361 units, which was higher by 8 per cent, as compared to Q4 FY22. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q4 FY23 were at 1,18,321 units, lower by 3 per cent over Q4 FY22.

The Mumbai-headquartered auto firm on Friday said global wholesales of Tata Motors passenger vehicles, including electric vehicles, in Q4 FY23 were at 1,35,654 units, higher by 10 per cent as compared to Q4 FY22.

According to the statement, global wholesales for Jaguar Land Rover (JLR) were 1,07,386 vehicles. Jaguar wholesales for the quarter were 15,499 vehicles, while Land Rover wholesales for the quarter were 91,887 vehicles.

JLR output for Q4 FY23 includes CJLR volumes of 12,737 units. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Tata Motors in 2008 became the first Indian company to have issued a Differential Voting Right (DVR) shares. The shares of the company are also listed separately. The move came to fund the acquisition of Jaguar Land Rover.

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