India's Tata Motors gains on hopes JLR global wholesales to improve

MUMBAI, April 11 Wed Apr 10, 2013 11:55pm EDT

MUMBAI, April 11 (Reuters) - Shares in India's Tata Motors Ltd rose as much as 4.9 percent on Thursday on hopes unit Jaguar Land Rover Ltd (JLR) would report solid global wholesales for March, which are due later in the day.

JLR said retail volumes grew by 16 percent in March on Wednesday. That exceed expectations by 8 percent, Kotak Institutional Equities said in a report, adding it will maintain Tata Motors as its top pick among Indian auto makers, with a "buy" rating and a target price of 335 rupees.