Tata Motors Shares Extend Gains To 3rd Day As April Sales Numbers Come In

Tata Motors‘ share price was up for the third straight session as the company posted its sales numbers for the month of April.

What Happened: The auto giant reported a year-on-year increase of 11.5% in total wholesales for April, reaching 77,521 units compared to 69,599 units in April 2023. The company’s total domestic sales also saw a rise of 12%, reaching 76,399 units from 68,514 units in the same month last year.

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Total passenger vehicle sales increased by 2%, reaching 47,983 units in April compared to 47,107 units in the same month last year. Meanwhile, total commercial vehicle sales surged by 31% to 29,538 units in April 2024 compared to 22,492 units in April 2023.

EV sales on the other hand moderated around 2% to 6,364 units from the 6,516 vehicles sold in April 2023. The Tata Group company is scheduled to post its earnings for the quarter ended March on May 10. The company is currently in the process of demerging its commercial vehicles and passenger vehicle businesses.

Price Action: Tata Motors’ share price was up 0.64% to trade at ₹1,014.40 shortly after market open on Thursday.

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