Thursday, 3 November 2016

Stock Market News | Tata Motors Declines After JLR Reports

Tata Motors lost 2.58% to Rs 517.25 at 13:25 IST on BSE after Jaguar Land Rover reported a 7% growth in US sales at 8,751 units in October 2016 over October 2015.

Meanwhile, the S&P BSE Sensex was down 255.04 points or 0.91% at 27,621.57.

On BSE, so far 5.57 lakh shares were traded in the counter as against average daily volume of 7.90 lakh shares in the past one quarter. The stock hit a high of Rs 526.50 and a low of Rs 515.70 so far during the day. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had under performed the market over the past one month till 1 November 2016, sliding 0.71% compared with 0.04% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 4.5% as against Sensex's 0.45% fall.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Jaguar US sales jumped 226% to 3,219 units in October 2016 over October 2015. Land Rover US sales declined 23% to 5,532 units in October 2016 over October 2015.

Tata Motors' consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 2015.

Tata Motors is a market leader in commercial vehicles in India. The company's British unit JLR sells premium luxury cars.

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