Why Shares of Tata Motors Are Surging Today
Shares of Indian automaker Tata Motors (NYSE: TTM) jumped on Friday morning after the company's Jaguar Land Rover (JLR) subsidiary reported strong quarterly earnings, helping its parent beat analyst expectations.
As of 11 a.m. EDT, Tata's American depositary shares were up about 11% from Thursday's closing price.
Tata Motors is India's largest maker of commercial vehicles, but much of its revenue and profit comes from subsidiary Jaguar Land Rover (JLR), the British luxury-vehicle company it purchased from Ford Motor Company (NYSE: F) in 2008.
Source Fool.com
