Tata Motors skids on profit booking

Tata Motors slipped 0.30% to Rs 151.30 as the counter witnessed some bit of profit taking.

The stock had gained 6.34% in the past four sessions to end at Rs 151.85 yesterday, from its recent closing low of Rs 142.80 on 28 August 2020.

Meanwhile the media reported that total Jaguar-Land Rover UK sales have increased by 13.8% to 3,101 units in August 2020 from 2,726 units in August 2019. Total Jaguar sales have risen 1% to 1,059 units and total Land Rover sales have jumped 21.8% to 2,042 units in August 2020 over August 2019, reports added.

Tata Motors, part of the $110 billion Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

The auto major reported a consolidated net loss of Rs 8438 crore in Q1 June 2020, higher than net loss of Rs 3,698.34 crore in Q1 June 2019. Net sales in Q1 FY21 stood at Rs 31,481.86 crore, falling 48% from Rs 60,830.16 posted in Q1 FY20.

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