Tata Motors surges 4% as experts positive on Range Rover launch

Shares of Tata Motors gained 3.5 percent heading to a sixth day of gains, on anticipation of a boost in sales when the auto maker will release a fourth-generation Range Rover in October.

The new model will retain the look of the sports utility vehicles, but is expected to be lighter and accommodate smaller engines, analysts said.

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JPMorgan expects the new Range Rover to weigh about 420 kgs less than existing models, with a price of GBP 71,000 onwards, according to a note dated on Monday.

Jefferies expects 10 percent growth in Range Rover volumes in fiscal 2014.

“Successful launch of Range Rover could add significantly to earnings,” Jefferies said in a note last week.

Reuters