Shares of Tata Motors on Friday jumped over 6 per cent, adding ₹8,819 crore to its market valuation, after the firm reported a consolidated net profit of ₹3,043 crore in the December quarter.
Read also: Tata Motors hikes car prices by 1.2%
The stock ended at ₹445.55 apiece, up 6.34 per cent on the BSE. During the day, it climbed 8.16 per cent to ₹453.20.
On the NSE, it jumped 6.25 per cent to settle at ₹445.25 per share.
It was the biggest gainer among the Sensex and Nifty components.
Read more: Tata Motors turns profitable after 7 quarters on record vehicle sales
The company's market valuation also jumped ₹8,819.46 crore to ₹1,47,981.46 crore on the BSE.
In volume terms, 24.79 lakh shares of the company were traded on the BSE and over 6.33 crore shares on the NSE during the day.
In the broader market, the 30-share BSE benchmark tanked 874.16 points or 1.45 per cent to settle at 59,330.90.
On Wednesday, Tata Motors reported a consolidated net profit of ₹3,043 crore in the December quarter, its first profit in two years, on account of robust sales.
The Mumbai-based auto major had reported a net loss of ₹1,451 crore in the October-December quarter of the previous fiscal.
Stock markets were closed on Thursday on account of Republic Day.
Total income increased to ₹88,489 crore in the period under review from ₹72,229 crore in the year-ago period, the company said in a regulatory filing.
On a standalone basis, Tata Motors reported a net profit of ₹506 crore in the third quarter, a jump of over two-fold, from ₹176 crore in the October-December period of 2021-22.
The company said it remains cautiously optimistic on the demand situation despite global uncertainties.
"We will remain vigilant on demand and our continued focus on profitable growth, improving semiconductor supplies and stable commodity prices will aid revenue growth, margin improvement and positive cash delivery in Q4 FY23," it added.
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