The Sensex flirted a 50,000 mark crossing over 1,350 points, while NSE’s Nifty zoomed past the 14,500 mark, as the market opened on Tuesday morning.
Surely, these reactions come after the Union Budget which was conducted yesterday, outlining a series of economy-boosting measures, especially post the pandemic-induced slump.
India’s vaccination drive has started too, with businesses resuming and offices starting to operate. All these are factors responsible for an uptick in the improvement of consumer and market sentiments.
In addition, the automobile sector in the country is witnessing an uptick in sales, too.
Homegrown automaker Tata Motors has recorded a growth-boost of 94% in the domestic passenger vehicle segment in January 2021, which is a 15% rise in sales, as compared to December 2020.
Tata Motors Record Sales Hike
As per a wire agency, Tata Motors has recorded 94% rise in the domestic passenger vehicle segment in Jan.
- 26,978 units of passenger cars sold in Jan 2021 compared to 13,894 units sold in Jan 2020.
- Passenger cars sold in Dec 2020 was 23,545, which means in January 202, the carmaker recorded a 15% hike in sales.
- Speaking of units sold in December 2020, the sales was 84% higher than only 12,785 units sold in December 2019.
- Tata Motors witnessed an overall growth of 28% across all segments, including exports, in January 2021.
“Limited sales in the domestic & international market for January 2021 stood at 59,959 vehicles, compared to 47,862 units during January 2020.”, according to a statement issued by Tata Motors.
New Launches by Tata
“The massive growth numbers in the passenger vehicle segment has helped Tata Motors clock an impressive overall growth in January this year”, says the feed.
Additionally, Tata Motors launched two new variants in the passenger vehicle segment, in January 2021.
On Jan 23, it launched the new iTurbo variant of its popular hatchback Altroz, at
- A starting price of Rs 7.73 lakh for the base XT trim,
- Rs 8.85 lakh for the top-spec XZ+ trim, and
- Rs 8.45 lakh for a mid-placed XZ trim.
A week later on Jan 30, the automaker launched a limited edition of Tiago hatchback.
Tata Motors is now preparing to launch its new Safari SUV.