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Tata Motors trades almost flat after weak Nov sales

Capital Market 

The auto major's total vehicle sales slumped 25.32% to 41,124 units in November 2019 from 55,074 units in November 2018.

Tata Motors rose 0.15% to Rs 161.70. The stock was trading in the range of Rs 158.95 to Rs 163.05 so far during the day.

Total vehicles sales were almost flat at 41,124 units in November 2019 compared with 41,354 units in October 2019.

The company recorded a 25% decline in total domestic sales to 38,057 units in November 2019 as against 50,470 in November 2018.

Total commercial vehicles sales fell 19% to 30,588 units in November 2019 over November 2018. Total passenger vehicles sales fell 39% to 10,400 units in November 2019 over November 2018. The announcement was made on Sunday, 1 December 2019.

Shares of Tata Motors fell 2.59% in the past two trading sessions to settle at Rs 161.45 on Friday, 29 November 2019, from its close of Rs 165.75 on 27 November 2019.

Meanwhile, the S&P BSE Sensex was up 68 points or 0.17% to 40,861.77.

In the past one month, shares of Tata Motors fell 7.54% to its current market price of Rs 161.70, underperforming the Nifty Auto index's 4.17% fall in the same period.

On the technical front, the stock's RSI (relative strength index) stood at 51.460. 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 146.71 as well as above its 200 DMA placed at Rs 161.14.

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.

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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, December 02 2019. 12:16 IST