Tata Motors surges 5% as earnings beat estimates

Shares in Tata Motors surged after the company's third-quarter net profit tripled to its highest in a year-and-a-half on strong demand for its luxury Jaguar Land Rover vehicles.

Margins for the company's Jaguar Land Rover unit came in at 17.9 per cent versus expectations of 16 per cent, analysts said.

Tata Motors shares were trading up 3.7 per cent at 9:34 a.m, after rising as much as 5 per cent in early trade.

Copyright: Thomson Reuters 2014