Tata Motors Share Price Increases By 8%

Tata Motors' stock price increased significantly in early trading on Monday after the company said that its global wholesales had rapid growth between January and March.

On the National Stock Exchange, Tata Motors shares reached an intraday high of 7.62% at Rs 471 per share.

In a press release, the business stated that its global wholesales, which includes Jaguar Land Rover, increased 8% year over year to 3,61,361 units in the March quarter.

Also, the total global sales of all Tata Motors commercial vehicles including the Tata Daewoo line during the time were 1,18,321 units.

According to a press release from the firm, 1,07,386 vehicles were sold globally by Jaguar Land Rover during that time, including 15,499 Jaguars and 91,887 Land Rovers.

Brokerages that are optimistic about the company's stock have applauded the good business update provided by Tata Motors.

With a target price of Rs 544, the stock has been upgraded by international brokerage firm Goldman Sachs. 

This shows that the price could rise by 24% from Thursday's closing price.