New Delhi: Shares of Tata Motors rallied by over 13% and those of Motherson Sumi Systems gained by 9.3% after Britain and the European Union (EU) agreed on a new Brexit deal.
Both companies have exposure to Britain and Brexit has been one of the reasons that impacted their earnings for several quarters.
Tata Motors closed the day at Rs 142.55 per share at the National Stock Exchange, up 13.27%. Motherson Sumi Systems wound up at Rs 108.60 per share at the BSE.
Jaguar Land Rover (JLR), part of Tata Motors since 2008, is Britain's largest automotive manufacturer.
In March, a subsidiary of transportation component major Motherson Sumi Systems acquired assets of Bombardier Transportation (Rolling Stock) UK Ltd for production and installation of electrical components and systems in the rail industry.
The transaction included transfer of assets, employee and inventories on debt free and cash free basis and was valued at 10.87 million pounds.
