Tata Motors shares jump 6.91 per cent on Q3 earnings

Tata Motors shares surged over 7 per cent on Wednesday, a day after the company reported 40.5 per cent jump in consolidated net profit for the quarter ended December 2011 on the back of Jaguar Land Rover sales.

After a firm opening, shares of the company rose 7.26 per cent to touch a one-year high of Rs 287.35 on the Bombay Stock Exchange (BSE) before closing the day 6.91 per cent higher at Rs 286.40.

On the National Stock Exchange (NSE), the stock registered even higher gains, jumping 7.43 per cent to Rs 287.85.

The stock was the best performer among the blue-chip scrips on both BSE and NSE during the morning trade.

Tata Motors on Tuesday reported 40.5 per cent jump in consolidated net profit to Rs 3,405 crore for the quarter ended December 2011 on the back of better performance by British division Jaguar Land Rover.

The rally in Tata Motors scrip was in tandem with the bullish broader market, where the BSE barometer Sensex breached the 18K level to close the day's trade 354 points higher at 18,202.41.

- With PTI inputs