Tata Motors slips after weak global wholesales in May

Tata Motors fell 1.03% to Rs 462.40 at 9:31 IST on BSE after the company said that its global wholesales, including Jaguar Land Rover, declined by 1% to 86,385 units in May 2017 over May 2016.

The announcement was made after market hours on Friday, 9 June 2017.

Meanwhile, the S&P BSE Sensex was down 111.44 points, or 0.36% to 31,150.62.

On the BSE, 50,000 shares were traded in the counter so far, compared with average daily volumes of 5.58 lakh shares in the past one quarter. The stock had hit a high of Rs 467 and a low of Rs 459.65 so far during the day. The stock hit a 52-week high of Rs 598.60 on 7 September 2016. The stock hit a 52-week low of Rs 417.10 on 8 May 2017.

The stock had outperformed the market over the past one month till 9 June 2017, rising 9.31% compared with 3.34% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.37% as against Sensex's 8% rise. The scrip had also underperformed the market in past one year, rising 2.19% as against Sensex's 17.37% rise.

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

On a consolidated basis, net profit of Tata Motors declined 16.79% to Rs 4336.43 crore on 2.88% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 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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