Tata Motors skids after small rise in global wholesales

Tata Motors lost 2.91% to Rs 427.50 at 11:40 IST on BSE after the company reported a small rise in group's global wholesales for the month of October 2017.

The announcement was made during market hours today, 10 November 2017.

Meanwhile, the S&P BSE Sensex was down 5.60 points or 0.02% at 33,245.33.

On the BSE, 12.32 lakh shares were traded on the counter so far as against average daily volumes of 13.45 lakh shares in the past one quarter. The stock had hit a high of Rs 440.85 and a low of Rs 426.30 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 underperformed the market over the past one month till 9 November 2017, gaining 3.38% compared with the Sensex's 4.41% rise. The stock had, however, outperformed the market over the past one quarter, advancing 5.65% as against the Sensex's 4.57% rise. The scrip had underperformed the market over the past one year, sliding 17.61% as against the Sensex's 22.01% rise.

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

Tata Motors' group global wholesales including Jaguar Land Rover (JLR) grew by 2.7% to 1.03 lakh units in October 2017 over October 2016. Sales of commercial vehicles and Tata Daewoo rose 1.3% while passenger vehicles grew by 3.5% last month.

Tata Motors had announced Q2 September 2017 results during market hours yesterday, 9 November 2017. Consolidated net profit jumped 195.04% to Rs 2502 crore on 10.34% growth in revenue (net of excise) to Rs 70156 crore in Q2 September 2017 over Q2 September 2016. Shares of Tata Motors had risen 0.36% to settle at Rs 440.30 yesterday, 9 November 2017.

Guenter Butschek, MD & CEO, Tata Motors, said that after a challenging first quarter, Tata Motors has demonstrated impressive results with month-on-month growth in sales and market share, enabled by a slew of new product launches and customer centric initiatives. With the company's turnaround plan in full action, it is seeing encouraging results and it will continue to drive sustainable profitable growth to meet its future aspirations, Butschek said.

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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