Tata Motors fell 1.3% to Rs 494.60 at 11:10 IST on BSE on reports its British luxury car making unit, Jaguar Land Rover was awaiting word on the fate of 1,200 luxury vehicles aboard a car transporter ship that has run aground in the English Channel.
Meanwhile, the BSE Sensex was down 25.61 points, or 0.09%, to 26,961.85.
On BSE, so far 1.59 lakh shares were traded in the counter, compared with an average volume of 4.15 lakh shares in the past one quarter.
The stock hit a high of Rs 496.35 and a low of Rs 491.30 so far during the day. The stock hit a record high of Rs 550.80 on 18 November 2014. The stock hit a 52-week low of Rs 331.05 on 4 February 2014.
The stock of auto firm had outperformed the market over the past one month till 6 January 2015, falling 4.52% compared with 5.17% fall in the Sensex. The scrip had however underperformed the market in past one quarter, declining 0.33% as against Sensex's 1.58% rise.
Salvage experts are reportedly working around the clock to right the Hoegh Osaka, which has been stuck on a sandbank off the south coast of England since Saturday, 3 January 2015. Range Rovers and other Jaguar Land Rover models accounting for most of the 1,400 vehicles aboard are covered by insurance, report said. The ship's owner, Hoegh Autoliners, has reportedly said its crew deliberately beached the ship after it began listing dangerously following its departure from the port of Southampton, bound for Germany. An investigation is underway, report added.
Tata Motors' consolidated net profit fell 7.1% to Rs 3290.86 crore on 6.5% rise in total income to Rs 60809.13 crore in Q2 September 2014 over Q2 September 2013.
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