Market Smiles on Tata; Shares Soar

New York, NY (TheStreet) -- Tata(TTM Quote) has been sending a positive message to the market -- and sending its shares soaring in afternoon trading.

The market is smiling on Tata and its stock has skyrocketed 10.1% to $15.80.

Recently Tata has been making impressive recoveries following the auto industry downturn last year.

For example, Tata sold 54,108 commercial and passenger vehicles worldwide in November or 65% more than the same time last year. In its home country of India, Tata sold 50,114 commercial and passenger vehicles, 64% more than it sold the same time last year.

Of course, the satisfying results were partly amplified by particularly slow sales last year.

Tata is India's largest auto company, with a consolidated revenue of $14 billion from 2008 to 2009. The first company from India's engineering sector to be listed on the NYSE, Tata has made a name for itself globally. Last year Ford sold its Jaguar and Land Rover operations to Tata.

At the beginning of last year, Tata unveiled the Nano, dubbed "The People's Car" for its safety and affordability. Tata sold 3,406 Nanos in November and says that its delivery of the Nano has been increasing every month since the launch.