Tata Motors edges lower after JLR's lackluster retail sales in Oct

Tata Motors dropped 0.16% to Rs 460.80 at 11:30 IST on BSE after the company announced that retail sales of its luxury car unit, Jaguar Land Rover rose 0.2% at 46,418 vehicles in October 2017 over October 2016.

The announcement was made during market hours today, 7 November 2017.

Meanwhile, the S&P BSE Sensex was down 74.36 points or 0.22% at 33,656.83.

On the BSE, 3.73 lakh shares were traded on the counter so far as against the average daily volumes of 12.97 lakh shares in the past one quarter. The stock had hit a high of Rs 465.80 and a low of Rs 455.05 so far during the day. The stock had hit a 52-week high of Rs 553 on 27 January 2017 and a 52-week low of Rs 357.95 on 11 August 2017.

The stock had risen 6.15% in prior two sessions to settle at Rs 461.55 yesterday, 6 November 2017, from a close of Rs 434.80 on 2 November 2017.

The stock had outperformed the market over the past one month till 6 November 2017, gaining 8.8% compared with 6.03% gains in the Sensex. The scrip had also outperformed the market in the past one quarter, rising 6.08% as against Sensex's 4.35% rise. The scrip had, however, underperformed the market in the past one year, dropping 9.87% as against Sensex's 23.67% rise.

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

The results reflect growing sales of the Range Rover Velar and the new Discovery offset by lower sales of the Range Rover and Range Sport in advance of the 18 model year refresh, including PHEV models, as well as the Range Rover Evoque and Jaguar XE.

Andy Goss, Jaguar Land Rover Group Sales Operations Director, said that the global sales have been maintained year on year in October, despite facing increasingly challenging conditions in key UK, US and European markets.

Jaguar retail sales fell 14.3% to 12,336 vehicles in October 2017 over October 2016, primarily reflecting lower sales of the Jaguar XE.

Land Rover retailed 34,082 vehicles in October 2017, up 6.8% over October 2016, led by the introduction of the Range Rover Velar and the new Land Rover Discovery.

The company will announce its Q2 results on 9 November 2017. Tata Motors' consolidated net profit rose 41.6% to Rs 3199.93 crore on 10.02% decline in net sales to Rs 58493.37 crore in Q1 June 2017 over Q1 June 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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