Tata Motors dips on weak March global wholesales

Tata Motors shares were nearly 3% down after its global wholesales in March 2014 declined nearly 18%

Shares of Tata Motors were down nearly 3% after its global wholesales in March 2014 declined nearly 18% to 95,668 units compared with 116,521 units in March 2013. Cumulative wholesales for the financial year ended March 2014 was also lower at 1,009,776 units compared with 1,196,416 units in the previous fiscal.

Global wholesales for Jaguar Land Rover for March 2014 were 43,311 vehicle. Jaguar wholesales for the month were 8,179 vehicle and cumulative wholesales were 79,307 vehicles, while Land Rover wholesales for the month were 35,132 vehicles and cumulative wholesales were 350,554 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 429,861 vehicles, the company said in a release after market hours on Friday.

The stock opened at Rs 424.35 on the BSE and touched an intra-day high of Rs 428.75 and low of Rs 411 so far.

Over 4 million shares of the auto major were traded on both the stock exchanges so far.