Tata Motors declined 2.57% to Rs 435.30 at 11:25 IST on BSE after the company's British luxury car unit Jaguar Land Rover reported a 2.3% fall in retail sales at 40,385 units in April 2017 over April 2016.
The announcement was made during market hours today, 5 May 2017.Meanwhile, the BSE Sensex was down 135.25 points, or 0.45%, to 29,990.96.
The stock has dropped 4.91% in four sessions to ruling price of Rs 435.30 from a close of Rs 457.80 on 28 April 2017.
On the BSE, 5.18 lakh shares were traded in the counter so far, compared with average daily volumes of 5.9 lakh shares in the past one quarter. The stock had hit a high of Rs 438 and a low of Rs 423.75 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 376.05 on 11 May 2016.
The stock had underperformed the market over the past one month till 4 May 2017, falling 7.22% compared with Sensex's 0.72% gains. The scrip had also underperformed the market in past one quarter, dropping 16.46% as against Sensex's 6.68% rise.
The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.
Retail sales of Jaguar Land Rover (JLR) for the month of April were up in North America (32.5%), China (10.1%) and Europe (2.7%), but down in the UK (34.6%) and in other overseas markets (19.7%) in April 2017 over April 2016.
Andy Goss, Jaguar Land Rover (JLR) Group Sales Operations Director said that April was a solid sales month with a strong performance from Jaguar led by the award winning F-PACE. A small decrease in sales was seen due to two factors. In the UK, customers purchased vehicles before the increase in vehicle tax on 1 April 2017.
In addition, the run-out of the previous Discovery model accounted for a decrease in Land Rover sales. Sales will increase from May month as the all-new Discovery model continues to go on sale across the world, particularly in China and North America, two of Jaguar Land Rover's biggest markets, he added.
Jaguar had a record April, with retail sales jumping 54% to 12,310 vehicles in April 2017 over April 2016, led by continuing strong sales of the F-PACE, XE and the long wheel base XFL from the China joint venture.
Retail sales for Land Rover fell 15.8% to 28,075 vehicles in April 2017 over April 2016, primarily reflecting the run-out of the Discovery and softer sales of other models, which were only partially offset by sales of the all-new Discovery and solid sales of Range Rover.
Jaguar Land Rover is investing around 3.5 billion annually to extend its model range and manufacturing footprint, including the investment in a new plant in Slovakia and recently launched models including the all-new Discovery, Range Rover Velar and the long wheel base Jaguar XFL for the Chinese-market, the company said.
Over the past six years, Jaguar Land Rover has doubled sales and employment, more than tripled turnover, and invested more than 16 billion in new product creation and capital expenditure. The company will invest in new products and facilities in Fiscal 2018 and beyond. Jaguar Land Rover is one of the UK's largest exporters and generates around 80% of its revenue from exports.
On 1 May 2017, Tata Motors reported that total sales of passenger and commercial vehicles fell 21% at 30,972 units in April 2017 over April 2016.
Tata Motors' consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.
Tata Motors is a market leader in commercial vehicles in India. The company's British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.
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