Tata Motors drops after weak global sales in August

Tata Motors fell 1.32% to Rs 505.50 at 9:57 IST on BSE after the company said its group global wholesales, including Jaguar Land Rover, fell 9.73% to 73,524 units in August 2014 over August 2013.

The announcement was made after market hours on Monday, 15 September 2014.

Meanwhile, the S&P BSE Sensex was down 21.79 points or 0.08% at 26,794.77.

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 3.75 lakh shares in the past two weeks.

The stock hit a high of Rs 510 and a low of Rs 504.55 so far during the day. The stock hit a 52-week low of Rs 325 on 16 September 2013. The stock hit a record high of Rs 531 on 28 August 2014.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range declined 19.6% to 30,536 units in August 2014 over August 2013. Global wholesales of all passenger vehicles slipped 1.11% to 42,988 units in August 2014 over August 2013.

Tata Motors reported 212.7% jump in consolidated net profit to Rs 5398.21 crore on 37.2% growth in net sales to Rs 64150.74 crore in Q1 June 2014 over Q1 June 2013.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 232834 crore ($38.9 billion) in 2013-14. It is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fifth largest truck manufacturer and fourth largest bus manufacturer.

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