Tata Motors shares surge 5 pc on Q2 numbers

Mumbai, Nov 10: Shares of Tata Motors shot up 5 per cent in the opening trade on Wednesday, Nov 10 after the company posted stellar second quarter (Q2) results.

the automobile giant's net profit surged a whooping 102 per cent in the quarter ended Sep 30, 2010. The company posted a net profit of Rs 2,222.99 crore as against the net profit of Rs 21.78 crore in the corresponding period in 2009.

"Favorable macroeconomic conditions, good monsoons and good finance availability led to robust domestic demand during the quarter, resulting in volume growth across all segments," Tata Motors said in a statement on Tuesday, Nov 9.

After rising marginally on the same day, the shares of the company shot up 5 per cent in the opening trade the next day despite an overall lacklusture trade.

OneIndia News