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Tata Motors corrects on profit booking

Capital Market 

Tata Motors fell 4.21% to Rs 128.70 on profit booking after a recent rally.

Shares of Tata Motors surged 22.69% in four trading sessions to settle at Rs 134.35 yesterday, 11 September 2019, from its close of Rs 109.50 on 4 September 2019.

Tata Motors announced during trading hours yesterday, 11 September 2019, that the Tata Motors Group global wholesales in August 2019, including Jaguar Land Rover, fell 32% to 72,464 units over August 2018.

Jaguar Land Rover retail sales in August 2019 were 34,176 vehicles, down 6.7% compared to August 2018. Retail sales in China continued to recover (up 17.4% year-on-year) as the company's local turnaround plan gathered momentum.

Meanwhile, the S&P BSE Sensex was down 18 points or 0.05% to 37253.10.

On the BSE, 29 lakh shares were traded in the Tata Motors counter so far compared with average daily volumes of 22 lakh shares in the past one quarter. The stock hit a high of Rs 135.3 and a low of Rs 127.3 so far during the day.

The stock hit a 52-week high of Rs 282 on 10 Sep 2018. The stock hit a 52-week low of Rs 106 on 04 Sep 2019.

On a consolidated basis, the auto maker had reported a net loss of Rs 3604.30 crore in Q1 June 2019 over a net loss of Rs 1902.37 crore in Q1 June 2018. Net sales fell 7.8% to Rs 60830.16 crore in Q1 June 2019 over Q1 June 2018.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defense vehicles.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 12 2019. 14:20 IST