Little did Tata Motors (TTM) know that when it bought Jaguar in 2009 for a few billion dollars it would eventually help the India auto maker become one of the world's hottest performing auto stocks. Actually, make that one of the hottest performing stocks, period.
Tata Motors is by far the-best performing major auto maker stock this year. It's up a whopping 76% compared to second placed Toyota (TM) at 23% and third placed General Motors (GM) which is up around 19% year to date ending April 18. Bloomberg newswires noted on Wednesday that the stock extended its gains after Jaguar and Land Rover, both acquired by Tata from their Anglo-American roots back in '09, recorded their highest ever monthly sales in March. The luxury brands have plugged the holes in the sinking Tata mainline passenger vehicles in India, where interest rates and fuel prices have dented consumer confidence, Bloomberg noted.
|