Tata Motors dips ahead of March sales numbers
The stock has underperformed the market by falling 13% after reporting 22% yoy drop in global sales for the month of February.
Tata Motors is trading lower by 2% at Rs 264 on the Bombay Stock Exchange (BSE) ahead of the monthly vehicle sales numbers for the month of March.
The stock of India’s largest domestic vehicle maker has underperformed the market by falling 13% after reporting a weak set of numbers for February.. The BSE benchmark Sensex has fallen around 4% during the same period.
The company had reported a 22.36% year-on-year fall in global sales at 98,837 units for the month of February. The company registered a sale of 127,318 units last year at the same time.
Tata Motors group’s global sales comprise Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles, along with distributed brands in India, Jaguar and Land Rover.
The stock opened at Rs 269 and hit a low of Rs 262 on BSE. A combined 4.57 million shares have changed hands on the counter till 1557 hours on BSE and NSE.
The stock of India’s largest domestic vehicle maker has underperformed the market by falling 13% after reporting a weak set of numbers for February.. The BSE benchmark Sensex has fallen around 4% during the same period.
The company had reported a 22.36% year-on-year fall in global sales at 98,837 units for the month of February. The company registered a sale of 127,318 units last year at the same time.
Tata Motors group’s global sales comprise Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles, along with distributed brands in India, Jaguar and Land Rover.
The stock opened at Rs 269 and hit a low of Rs 262 on BSE. A combined 4.57 million shares have changed hands on the counter till 1557 hours on BSE and NSE.