Tata Motors was down 0.62% to Rs 160, extending recent losses amid weak market sentiment.The stock has fallen 3.47% in four sessions from its recent closing high of Rs 165.75 on 27 November 2019.
Tata Motors on Monday, 2 December 2019, announced that it has bagged a huge order of over 2300 buses from various state transport undertakings (STUs), namely Rajasthan (RSRTC), Karnataka (KSRTC/ BMTC/ NWKRTC), Uttar Pradesh (UPSRTC), Tamil Nadu (IRT), and Andhra Pradesh (APSRTC). Tata Motors is working towards completing this order by February 2020.
According to Rohit Srivastava, product line head, buses, Tata Motors, "With the governments continued thrust towards providing smart safe and convenient alternatives of public transport, we at Tata Motors acknowledge the proactive approach of various STU's to maintain a sustainable mass public transportation system. We take great pride in having the opportunity to provide best-in-class mobility solutions. Our in-depth understanding of sustainable public transport for different markets and customers is what differentiates us from our competitors. With an order size of over 2300 Tata Motors buses across, we look forward to a continued partnership with all the STUs, in their endeavor to reinforce the public transportation system in their respective cities."
Meanwhile, the S&P BSE Sensex was down 103 points or 0.25% to 40699.52.
On the BSE, 4.40 lakh shares were traded in the counter so far compared with average daily volumes of 15.61 lakh shares in the past two weeks. The stock hit a high of Rs 162.95 and a low of Rs 159.5 so far during the day.
The stock hit a 52-week high of Rs 239.3 on 18 Apr 2019. The stock hit a 52-week low of Rs 106 on 04 Sep 2019.
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.
The auto major's total vehicle 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.
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