Tata Motors drops on poor sales in August

Tata Motors lost 1.49% to Rs 294.25 at 10:27 IST on BSE after the company said its total sales including exports fell 30.93% to 49,611 units in August 2013 over August 2012.

The company announced the August sales on Sunday, 1 September 2013.

Meanwhile, the BSE Sensex was up 199.64 points or 1.07% at 18,819.36.

On BSE, 1.12 lakh shares were traded in the counter as against average daily volume of 9.50 lakh shares in the past one quarter.

The stock hit a high of Rs 296.60 and a low of Rs 292.15 so far during the day. The stock hit a record high of Rs 337.05 on 10 January 2013. It hit a 52-week low of Rs 225.15 on 6 September 2012.

The stock had outperformed the market over the past one month till 30 August 2013, surging 5.03% compared with the Sensex's 3.77% fall. The scrip had also outperformed the market in past one quarter, declining 5.74% as against Sensex's 7.89% fall.

The large-cap company has equity capital of Rs 643.72 crore. Face value per share is Rs 2.

Tata Motors' total domestic sales fell 33.71% to 44,717 units in August 2013 over August 2012. The company's sales from exports jumped 11.91% to 4,894 units in August 2013 over August 2012.

Tata Motors' consolidated net profit fell 23.1% to Rs 1726.07 crore on 8.3% growth in net sales to Rs 46751.26 crore in Q1 June 2013 over Q1 June 2012.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,88,818 crore ($34.7 billion) in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.

Powered by Capital Market - Live News