Tata Motors stock soars, as electrified vehicles made up more than
The U.S.-listed shares of Tata Motors Ltd. ran up 14.1% in afternoon trading Monday, toward the highest close since April 2019, after the India-based automaker, which brands include Land Rover and Jaguar, reported fourth-quarter retail sales data, and stressed its commitment to an electrification strategy. The company said it sold 128,469 vehicles during the quarter ended Dec. 31, down 9.0% from the same period a year ago, but up 13.1% from the previous quarter. Tata said sales in China were up 19.1% on the year and up 20.2% sequentially. The company said that 53% of its retail sales for the quarter were of electrified vehicles, lifting the share of electrification to 43.3% of total sales for 2020. Tata said the share of electrification is “poised for further growth in 2021 and beyond.” The stock has soared 62.8% over the past three months, while the S&P 500 has gained 9.7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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