Tata Motors slips after poor monthly sales

Tata Motors fell 1.13% to Rs 165.95 at 9:21 IST on BSE after the company's domestic sales dropped 14% to 49,073 units in June 2019 over June 2018.

The announcement was made after market hours yesterday, 1 July 2019.

Meanwhile, the S&P BSE Sensex was up by 20.59 points, or 0.05% to 39,707.09.

On the BSE, 68000 shares were traded in the counter so far compared with average daily volumes of 12.67 lakh shares in the past two weeks. The stock had hit a high of Rs 167.25 and a low of Rs 165.70 so far during the day. It hit a 52-week high of Rs 282 on 10 September 2018 and a 52-week low of Rs 141.9 on 8 February 2019.

 

Tata Motors' commercial and passenger vehicles business sales in the domestic market witnessed a drop of 14% at 49,073 units in June 2019 over June 2018 due to subdued demand. The company's sales from exports fell 48% to 2,702 units in June 2019 over in June 2018 due to drop in retails in Bangladesh, Nepal & Middle East markets.

On a consolidated, Tata Motors' net profit declined 47.4% to Rs 1117.48 crore on 3.7% decline in net sales to Rs 85676.33 crore in Q4 March 2019 over Q4 March 2018.

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

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