The shares of Tata Motors rose on the second consecutive day after the company announced strong sales growth in the third quarter of the financial year.

Its shares rose 9% to a high of Rs 776 after it opened on Rs 729. The shares are now trading 7.5% high at Rs 766.

More than 500,000 shares were traded on the Bombay Stock Exchange while the daily average for two weeks is 580,000 shares.

On the National stock exchange the shares of the company touched an intraday high of Rs 774 and an intraday low of Rs 720. They were trading 7.4% up at Rs 764.

The sales of the company have grown for the month of February by 58% to 69,427 units, year on year against 43,811 units sold in the same month of 2009. The consolidated net profit for the third quarter was recorded at Rs 650 crore as against a net loss of Rs 2,598 crore in the corresponding quarter a year ago.

The company was able to record strong growth due to the increasing demand and new launches along with the government stimulus.

The shares of the company have grown more than 400% or Rs 600 in the year from a low of Rs 149.95 touched during the economic slowdown.