Tata Motors' shares rise over 3% on steady sales

Shares of Tata Motors gained over 3% after the company reported a 9.9% growth in sales at 39,763 units in April against 36,190 units during the same month last year.

After a positive opening, the shares of the company climbed 3.57% to Rs 421.85 on the BSE. At the National Stock Exchange (NSE), it rose by 3.5% to Rs 422.

At 1038 hours, the company stock was dealing at Rs 419.15, up Rs 11.85 or 2.91% on the BSE and at Rs 418.90, up 11.20 or 2.75% on At the National Stock Exchange (NSE). 

The company announced the monthly sales volume data after market hours on Monday.

Domestic sales of Tata Motors' commercial and passenger vehicles rose 11%, at 35,978 units during the month as against 32,404 in April 2015. Sales of passenger vehicles in the domestic market last month stood at 11,161 units as against 10,341 a year ago, up 7.9%, Tata Motors said in a statement.

As for passenger cars, the sales read 5.9% at 9,451 units in April compared with the year-ago period.

In the commercial vehicles segment, the company's domestic sales came in at 25,138 units, up 13.3% over April 2015.