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Shares of Tata Motors were down nearly 2% at Rs 485 on the BSE after retail volumes of its UK-based subsidiary Jaguar and Land Rover dropped for the second straight month.
Volumes fell after the two Tata Motors-owned brands reported production issues related to transition to new models and stock clearance in its biggest market China.
The two UK-based brands reported retails sales fall of two per cent in October and in November at 33,512 units and 36,621 units respectively. Volumes of Land Rover fell by two per cent while that of Jaguar were down by four per cent last month.
The stock opened at Rs 491 and touched a low of Rs 485. At 10:10AM, nearly 700,000 shares were traded on both the stock exchanges.
