Tata Motors declines after muted growth in November sales

Tata Motors lost 0.88% to Rs 531.45 at 9:50 IST on BSE after the company said its total sales rose 2.09% at 41,720 units in November 2014 over November 2013.

The sales numbers were announced after market hours on Monday, 1 December 2014.

Meanwhile, the S&P BSE Sensex was down 86.31 points or 0.3% at 28,473.31.

On BSE, so far 69,000 shares were traded in the counter as against average daily volume of 7.36 lakh shares in the past two weeks.

The stock hit a high of Rs 537 and a low of Rs 530.50 so far during the day.

Tata Motors' domestic sales of Tata commercial and passenger vehicles for November 2014 at 37,427 units remained flat. Tata Motors' total exports jumped 17% to 4,293 units in November 2014 over November 2013. The company's sales of commercial vehicles in the domestic market declined 5% at 25,406 units in November 2014 over November 2013. Sales of medium and heavy commercial vehicles (M&HCV) jumped 39% at 9,452 units in November 2014 over November 2013. Sales of light commercial vehicles (LCVs) fell 20% at 15,954 units in November 2014 over November 2013. The trend of growth in passenger vehicles continued, with the strong Zest and Nano sales in November 2014, Tata Motors said.

On consolidated basis, Tata Motors' net profit declined 7.1% to Rs 3290.86 crore on 8% growth in net sales to Rs 60163.99 crore in Q2 September 2014 over Q2 September 2013.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 2,32,834 crore ($38.9 billion) in 2013-14. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 8 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.

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