Tata Motors rose 1.21% to Rs 163.45 after Jaguar Land Rover (JLR) retail sales rose 11.16% to 46,542 vehicles in November 2019 over October 2019.
Land Rover retail sales jumped 12.21% to 35,078 units in November 2019 compared with 31,260 units in October 2019. Jaguar retail sales rose 8.08% to 11,464 in November 2019 over 10,606 units in October 2019.
On a year-on-year basis, JLR retail sales fell 3.4% to 46,542 units in November 2019 over November 2018.
Jaguar retail sales declined 23.1% to 11,464 units in November 2019 over November 2018. Land Rover retail sales rose 5.5% to 35,078 units in November 2019 over November 2018. The announcement was made during market hours today, 9 December 2019.
During market hours on Tuesday, 3 December 2019, JLR's total November U.S. sales reached 12,472 units, up 6% from November 2018. For the calendar year, JLR achieved 111,895 units, an increase of three percent vs. 108,377 units in 2018.
JLR is the UK's largest automotive manufacturer and is one of the world's premier luxury sports sedan and sports car marques.
Tata Motors' India sales slumped 25.32% to 41,124 units in November 2019 from 55,074 units in November 2018. Total vehicles sales were almost flat at 41,124 units in November 2019 compared with 41,354 units in October 2019.
Shares of Tata Motors fell 5.76% in the past two trading sessions to settle at Rs 161.50 on Friday, 6 December 2019, from its close of Rs 169.40 on 4 December 2019.
Meanwhile, the S&P BSE Sensex was up 120 points or 0.30% to 40,565.42.
In the past one month, shares of Tata Motors fell 4.97% to its current market price of Rs 163.45, underperforming the Nifty Auto index's 3.42% fall in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 52.221. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 150.32, as well as above its 200 DMA placed at Rs 161.02.
Tata Motors reported a consolidated net loss of Rs 227.62 crore in Q2 September 2019 as compared to a net loss of Rs 873.27 crore in Q2 September 2018. Net sales declined 9.2% to Rs 64,763.39 crore in Q2 September 2019 over Q2 September 2018.
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defense vehicles.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
