Tata Motors drops after reporting January global wholesales

Tata Motors fell 1.18% to Rs 567.20 at 9:15 IST on BSE after the company said its global wholesales in January 2015 including Jaguar Land Rover remained flat at 80,499 units, compared to January 2014.

The announcement was made before market hours today, 18 February 2015.

Meanwhile, the S&P BSE Sensex was up 40.67 points or 0.14% at 29,176.55.

On BSE, so far 2,967 shares were traded in the counter as against average daily volume of 4.44 lakh shares in the past one quarter.

The stock hit a high of Rs 573.50 and a low of Rs 565 so far during the day.

The stock had outperformed the market over the past one month till 16 February 2015, surging 9.2% compared with Sensex's 3.61% rise. The scrip had also outperformed the market in past one quarter, jumping 9.57% as against Sensex's 3.88% rise.

The large-cap automobile manufacturer has equity capital of Rs 547.34 crore. Face value per share is Rs 2.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 2% to 30,678 units in January 2015 over January 2014. Global wholesales of all passenger vehicles remained flat at 49,821 units in January 2015 over a year ago. Global wholesales for JLR declined 5.44% to 36,527 units in January 2015 over January 2014. The reduction in the JLR sales is more than explained by the sales run out of the Land Rover Freelander model while retails of the new Land Rover Discovery Sport will start this month in some markets, Tata Motors said.

Tata Motors' consolidated net profit declined 25.5% to Rs 3580.72 crore on 8.8% growth in net sales to Rs 69121.61 crore in Q3 December 2014 over Q3 December 2013.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 2,32,834 crore ($38.9 billion) in 2014-14. 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.

Powered by Capital Market - Live News