Tata Motors drops after series of bulk deals

Tata Motors lost 2% to Rs 346 at 10:22 IST on BSE after witnessing a series of bulk deals yesterday, 15 March 2018.

Meanwhile, the S&P BSE Sensex was down 211.38 points or 0.63% at 33,474.16.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 6.15 lakh shares in the past one quarter. The stock had hit a high of Rs 352.90 and a low of Rs 345.45 so far during the day. The stock had hit a 52-week high of Rs 487 on 26 May 2017 and a 52-week low of Rs 340.65 on 12 March 2018.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors witnessed promoter holding rejig via open market transactions on 15 March 2018 on the BSE at an average price of Rs 354.15 per share. Sir Dorabji Tata Trust sold 8.08 lakh shares. Sir Ratan Tata Trust offloaded 8.59 lakh shares. Tata Sons bought 16.68 lakh shares. Sir Dorabji Tata Trust held 0.03%, Sir Ratan Tata Trust 0.03% and Tata Sons controlled 33.24% stake end December 2017.

Tata Motors' consolidated net profit surged 988.6% to Rs 1214.60 crore on 16% growth in net sales to Rs 74156.07 crore in Q3 December 2017 over Q3 December 2016.

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

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