Tata Motors dips 4% on weak April sales nos

It reported 40% fall in total sales of commercial and passenger vehicles

Tata Motors has dipped 4% to Rs 305 after reporting 40% fall in total sales (including exports) of Tata commercial and passenger vehicles at 60,086 units in April 2012 on month-on-month (m-o-m) basis. The automobile major had sold 100,414 vehicles in the previous month.

The company's domestic sales of Tata commercial and passenger vehicles for April 2012 were lower by 40% at 57,305 nos., while sales from exports at 2,781 vehicles in April 2012 were lower by 48% over the previous month.

The stock hit a low of Rs 305 after opened at Rs 313 on the National Stock Exchange. A combined 4.53 million shares have changed hands on the counter till noon trades on both the exchanges.