Tata Motors hits 52-week low

Tata Motors plunged 5.9% to Rs 406.20 at 14:10 IST on BSE on concerns demand for its luxury brand of cars, Jaguar Land Rover will take a hit after worries about a slowdown in China.

Meanwhile, the S&P BSE Sensex was down 418.97 points or 1.49% at 27,752.72.

On BSE, so far 9.28 lakh shares were traded in the counter as against average daily volume of 5.7 lakh shares in the past one quarter.

The large-cap auto manufacturer hit a high of Rs 425.50 in intraday trade. The stock hit a low of Rs 400, also a 52-week low for the stock. The stock hit a record high of Rs 605.57 on 3 February 2015.

China is the biggest market for Tata Motors' luxury car unit, Jaguar Land Rover (JLR). The Chinese stock markets continued their plunge this week, wiping close to 37% off their market valuation from the peak of early June 2015.

On consolidated basis, Tata Motors' net profit fell 55.8% to Rs 1747.43 crore on 3.4% rise in total income to Rs 67821.21 crore in Q4 March 2015 over Q4 March 2014.

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