You are here: Home » Markets » News
Business Standard

Tata Motors stock skids 5% on muted Q1 nos

Press Trust of India  |  Mumbai 

Shares of Tata Motors fell by up to 5.17% in morning trade on the bourses today after the auto major posted a marginal 0.55% increase in consolidated net profit for the quarter ended June 30, 2011.

Even after opening the day on a positive note, the stock failed to carry the momentum and slipped by 5.17% to hit a low of Rs 805.10 on the NSE. A similar trend was seen on the BSE, where the stock dropped by 4.71% to an early low of Rs 805.75.

The stock was the worst performer among the 30-Sensex blue-chip companies till 1045 hours.

On the volume front, over 1.9 million shares of the company changed hands on the bourses in morning trade.

Analysts said the company reported a flat net profit for the first quarter on Thursday and that is why it is witnessing selling pressure. They added that the market was expecting higher profits, which the company failed to deliver.

Tata Motors yesterday posted a 0.55% increase in consolidated net profit for the first quarter ended June 30, 2011, to Rs 2,000 crore, compared to Rs 1,989 crore for the same quarter last fiscal.

Meanwhile, the BSE benchmark Sensex was trading at 17,035.94, down 23.46 points, at 1045 hours today.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, August 12 2011. 11:18 IST