Shares of the mother or father of luxurious automobile maker Jaguar Land Rover – Tata Motors – rose as a lot as 9.1 per cent to hit recent 52-week excessive of Rs 417.3, extending their features to 3rd straight session on Monday after the corporate knowledgeable exchanges that underlying demand for Jaguar Land Rover merchandise stays robust with order books at document ranges. The corporate, nonetheless, warned that retail gross sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the influence of the worldwide semiconductor scarcity.
“Retail gross sales for the second quarter ending 30 September 2021 have been 92,710 autos, 18.4 per cent decrease than the 113,569 autos offered in Q2 final yr. Retails have been decrease year-on yr in most areas, together with North America (-15.6 per cent), China (-6.3 per cent), Europe (-17.0 per cent), and within the UK (-47.6 per cent), however have been up in our Abroad area (+10.0 per cent),” Tata Motors mentioned in a press launch.
Retail gross sales of all fashions have been decrease year-on-year excluding the brand new Land Rover Defender, which retailed 16,725 autos, up 70.4 per cent year-on-year, making it our bestselling mannequin within the quarter.
“The worldwide semiconductor provide situation represents a major near-term problem for the business which is able to take time to work by means of. Nevertheless, it is encouraging we have been nonetheless in a position to develop gross sales of the Land Rover Defender in Q2. Furthermore, we’re delighted to have a document Firm order e-book demonstrating the underlying demand for our merchandise which we’ll fulfill when the semiconductor provide recovers,” Lennard Hoornik, Jaguar Land Rover Chief Industrial Officer
Within the final three classes, Tata Motors shares have rallied 25 per cent, massively outperforming the Sensex which has superior 2 per cent.
As of 11:39 am, Tata Motors shares traded 9 per cent increased at Rs 417.50.