Tata Motors drops after reporting fall in global wholesales in July

Tata Motors declined 1.93% to Rs 348.50 at 09:48 IST on BSE after the company's global wholesales dropped 8% to 73,535 units in July 2015 over July 2014.

The company announced the monthly sales figures after market hours on Friday, 14 August 2015.

Meanwhile, the BSE Sensex was down 266.80 points, or 0.95%, to 27,800.51

On BSE, so far 1.47 lakh shares were traded in the counter, compared with an average volume of 8.39 lakh shares in the past one quarter.

The stock hit a high of Rs 355 and a low of Rs 345.75 so far during the day. The stock hit a 52-week low of Rs 345.25 during the previous trading session on Friday, 14 August 2015. The stock hit a record high of Rs 605.57 on 3 February 2015.

The stock had underperformed the market over the past one month till 14 August 2015, falling 7.88% compared with 0.48% rise for the Sensex. The scrip had also underperformed the market in past one quarter, falling 31.19% as against Sensex's 3.17% rise.

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

Tata Motors' global wholesales of commercial vehicles fell 3% to 30,278 units in July 2015 over July 2014. Global wholesales of passenger vehicles fell 12% to 43,257 units in July 2015 over July 2014.

Global wholesales for Jaguar Land Rover (JLR) stood at 32,568 vehicles. This includes sales of CJLR which is a joint venture between JLR and Chery Automobiles. Jaguar wholesales stood at 6,882 vehicles while Land Rover wholesales stood at 25,686 vehicles in July 2015.

Tata Motors' consolidated net profit fell 48.7% to Rs 2768.91 crore on 5.6% fall in total income to Rs 61326.75 crore in Q1 June 2015 over Q1 June 2014.

Tata Motors is a market leader in commercial vehicles in India. The company's British unit Jaguar Land Rover sells premium luxury cars.

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