Tata Motors sees initial volatility after flat sales in November

Tata Motors rose 0.12% to Rs 448.70 at 9:23 IST on BSE amid initial volatility after the company reported flat sales in November 2016.

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 165.22 points or 0.62% at 26,394.70.

On the BSE, 36,000 shares were traded on the counter so far as against the average daily volumes of 4.47 lakh shares in the past two weeks. The stock had hit a high of Rs 449 and a low of Rs 443.25 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The company's domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Total income rose 7% to Rs 66106.96 crore in Q2 September 2016 over Q2 September 2015.

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

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