Why Shares of Tata Motors Are Up Sharply Again Today
Shares of Tata Motors (NYSE: TTM), an automaker in India, continued a post-earnings surge on Tuesday, as investors digested much-improved results from Tata's important Jaguar Land Rover (JLR) subsidiary.
As of 10 a.m. EDT today, Tata's American depositary shares were up about 14% from Monday's closing price.
Tata's quarterly earnings report, released Friday, beat Wall Street's expectations thanks to a strong result from JLR, which posted a pre-tax profit of 156 million British pounds ($201.1 million), up sharply from a loss of 90 million pounds in the year-ago period. While overall deliveries were roughly flat from a year ago, JLR's revenue rose 8% to 6.1 billion pounds on improved product mix and a nice increase in sales in China.
Source Fool.com
