Tata Motors Surges After Profit Beats Estimates on JLR Sales
- Company’s luxury unit is ramping up sales of new models
- Net income in the quarter tripled to 51.8 billion rupees
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Tata Motors Ltd. rose the most in almost three years after Jaguar Land Rover sales gains in Europe and China helped triple its profit, beating analyst estimates.
The shares gained 9.1 percent, the most since September 2013, to 459.65 rupees at the close in Mumbai. Tata was the best performer on the benchmark S&P BSE Sensex, which declined 0.2 percent.