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Tata Motors gains as sequential monthly sales rise

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Tata Motors rose 1.74% to Rs 177.95 after the company's auto sales rose 13.68% to 41,354 units in October 2019 from 36,376 units in September 2019.

However, Tata Motors' total sales in the domestic & international market fell by 33.58% to 41,354 units in October 2019 as compared to 62,264 units during October 2018. The auto maker announced sales figures for the month of October 2019 after market hours on Friday, 1 November 2019.

Total domestic sales fell 32% to 39,152 units in October 2019 as against 57,710 units in October 2018. The company reported 34% decline in total domestic sales at 25,983 units as against 39,420 units in the year-ago period. Total commercial vehicles exports slumped 54% to 2,019 units in October 2019 from 4,393 units in October 2018.

Mayank Pareek, president, passenger vehicles business unit, Tata Motors, said, In October retail sales were the highest in this fiscal recording a 70% increase month-on-month. In this fiscal, network stock has been reduced by 38%. October end network stock is the lowest in last two years. This will help our network to be prepared for a smooth BS6 transition.

On the BSE, 3.33 lakh shares were traded in the counter so far compared with average daily volumes of 38.68 lakh shares in the past two weeks. The stock hit a high of Rs 176.45 and a low of Rs 171.5 so far during the day.

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: Mon, November 04 2019. 09:27 IST