Tata Motors drops after group global wholesales rises slightly in November

Tata Motors declined 1.58% to Rs 456.70 at 9:35 IST on BSE after Tata Motors Group global wholesales including Jaguar Land Rover rose 1% to 91,832 units in November 2016 over November 2015.

The announcement was made after market hours on Friday, 9 December 2016.

Meanwhile, the S&P BSE Sensex was down 141.16 points or 0.53% at 26,606.02.

On the BSE, 23,740 shares were traded on the counter so far as against the average daily volumes of 5.98 lakh shares in the past one quarter. The stock had hit a high of Rs 463.50 and a low of Rs 456.65 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

The stock had underperformed the market over the past one month till 9 December 2016, falling 13.16% compared with the Sensex's 1.85% fall. The scrip had also underperformed the market in past one quarter, declining 19.01% as against the Sensex's 7.12% fall.

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

Tata Motors said that global wholesales of all passenger vehicles rose 5% to 64,862 units in November 2016 over November 2015. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range fell 7% to 26,970 units in November 2016 over November 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 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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