Tata Motors Posts Strong November Sales

Tata Motors (TTM) recovered with strong sales number for the month of November. Vehicle sales in November were up 43.1% YoY. This comes after disappointing growth the last few months:

* November 2006: 43.1%
* October 2006: 5.6%
* September 2006: 23.8%
* August 2006: 26.2%

Key Highlights:

* Total sales of 49,061 vehicles - 43.1 YoY
* Commercial Vehicle sales grew 45.8% YoY
* Passenger vehicle sales grew 48.4% YoY
* Exports, however, grew by only 9.6% YoY

The market reacted positively to the news Friday and Monday as the stock closed up 4.65% and 4.71% respectively.

TTM 1-yr chart: