Tata Motors CV Jumps 3% on Strong June Sales

Shares of Tata Motors CV touched a day high of Rs 437.70 on Wednesday, gaining after strong June and Q1 commercial vehicle sales.

Here is the number that matters most. Tata Motors sold 40,805 commercial vehicles in June, up 35% from the same month last year. Growth came in almost across the board, in trucks, buses and small delivery vehicles.

Breaking it down further, domestic sales rose 31% to 36,599 units in June. Sales to international markets did even better, jumping 83% to 4,206 units.

For the full April to June quarter, total commercial vehicle sales came in at 108,488 units, up 27% year on year.

Within this, small commercial vehicles used for last mile delivery and pickups grew the fastest, up 36% for the quarter. Heavy trucks grew 22%, while passenger carriers like buses rose 23%.

The company’s electric commercial vehicle volumes also grew four and a half times compared to a year ago, showing rising demand for electric trucks and vans.

Girish Wagh, who heads the commercial vehicles business at Tata Motors, said demand is being driven by logistics, e-commerce and core industries.

He added that shipments to Indonesia have started, and supplies to the Middle East are gradually resuming after a brief pause.

This strong start to the year follows a good March quarter as well, where the company’s commercial vehicle business had posted a 34% jump in net profit to Rs 1,793 crore, with revenue up over 19%.

The stock closed at Rs 431.45 on the NSE on Wednesday, up 2.01% for the day. It has now gained close to 15% over the past month.

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