Tata Motors slides 4% on profit booking post December quarter results

The company guided for robust demand prospects with JLR order-book at 1.55 lakh units, which coupled with gradual improvement in chip availability to result in healthy profitability going forward.

Shares of Tata Motors slipped 4 per cent to Rs 498.55 on the BSE in Tuesday's intra-day trade on profit booking after the company pared its consolidated loss on quarter-on-quarter basis in the September-December 2021 (Q3FY22) as better availability of semiconductors helped Jaguar Land Rover (JLR) ramp up production.

At 09:30 am, Tata Motors traded 3 per cent lower at Rs 502, as compared to 1.2 per cent rise in the S&P BSE Sensex. In the past six months, the stock has rallied 71 per cent, as against 12 per cent gain in the benchmark index.

The Tata