Tata Motors shares gain over 3%; mcap rises by Rs 2,829 crore

New Delhi: Shares of Tata Motors on Thursday rose by over 3 percent after the company-owned Jaguar Land Rover (JLR) reported 6.1 percent increase in global sales in May.

The stock went up 3.32 percent to close at Rs 305.30 on BSE. During the day, it jumped 3.70 percent to Rs 306.45.

At NSE, shares of the company gained 3 percent to end at Rs 304.75.

The company's market valuation rose by Rs 2,829.76 crore to Rs 88,150.76 crore.

In terms of equity volume, 13.63 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

JLR today reported 6.1 percent increase in global sales at 48,281 units in May, driven by introduction of new models including the Range Rover Velar across markets.

Sales of Jaguar brand of vehicles in May were at 14,507 units, an increase of 6.6 percent over May 2017, the company said in a statement.

Land Rover range posted sales of 33,774 units in the month, up 6 percent, it added.