Tata Motors shares rose over 2.8 per cent to reach Rs 1,040.75 per share on Thursday around 11.30 am ahead of the auto major's announcement of its Q4 results on Friday.
This comes amid analysts predicting robust results for the company supported by operating leverage advantage, favourable commodity trends and strong volume growth across its various segments.
Its vehicle sales in the domestic and overseas market for Q4 FY24 was recorded at 2,65,090 units compared to 2,51,822 the same quarter in FY23. The number of passenger vehicles sold surged 15 per cent to 1,55,651 in the March quarter while the commercial vehicles sold slumped by 6 per cent to 1,09,439.
In FY24, Tata Motors received its highest-ever grant of 333 patents, taking its total granted patents to over 850. The company has also filed 222 patents and 117 design applications in FY24, the highest in its history. The filings span across a wide spectrum of product and process innovations, addressing key automotive megatrends such as connectivity, electrification, sustainability, and safety (CESS).
The company is also expected to cut its net debt to near zero in the March quarter. Tata Motors is planning to invest $1 billion in a new plant in Tamil Nadu to manufacture luxury cars under Jaguar Land Rover.
