Tata Motors shares rise after earnings beat forecast

Mumbai, May 30 – Shares in Tata Motors Ltd rose more than 4 percent after its quarterly earnings beat estimates, helped by better-than-expected margins at unit Jaguar Land Rover.

 

Tata Motors said on Wednesday that JLR's profit margin rose to 16.9 percent in the three months ended March 31 from 14.6 percent in the same period the year before, helped by a favourable exchange rate and record quarterly sales.TTI