Tata Motors stock falls 4% despite growth in global sales
Tata Motors stock touched an intraday low of Rs 435, down 3.77% against the previous close of Rs 452.05 on BSE. The share opened at Rs 418.80.
- Apr 12, 2022,
- Updated Apr 12, 2022 3:02 PM IST
Shares of Tata Motors fell nearly 4 per cent today despite the group reporting a 2 per cent year-on-year growth in global wholesales. Tata Motors stock touched an intraday low of Rs 435, down 3.77 per cent against the previous close of Rs 452.05 on BSE. The share opened at Rs 418.80.
Tata Motors stock is trading higher than 20 day and 200 day moving averages but lower than 5 day, 50 day and 100 day moving averages.
The stock has gained 53.33 per cent in one year but lost 9 per cent since the beginning of this year. Market cap of the firm fell to Rs 1.45 lakh crore on BSE.
ALSO READ: Tata Motors to ramp up EV production as demand rises: Top exec
Total 13.66 lakh shares changed hands amounting to a turnover of Rs 59.99 crore.
The share hit a 52-week high of Rs 536.50 on November 17, 2021 and a 52-week low of Rs 268.50 on August 24, 2021.
Sales for Jaguar land Rover came at 3,34,884 units in the March quarter of FY22.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q4 FY22 stood at 1,22,147 units, higher by 12 per cent over the same quarter of the earlier fiscal.
For all passenger vehicles, global wholesales declined 4 per cent at 212,737 units in the March quarter of the just-concluded fiscal as compared to Q4 FY21. Global wholesales for Jaguar Land Rover were 89,148 vehicles, including 12,622 units delivered by CJLR, it said. CJLR is a joint venture between JLR and Chery Automobiles, which is an unconsolidated subsidiary for JLR.
In a related development, Tata Motors is planning to raise the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin.
The Mumbai-based automaker has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range.
The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market. It has also recently unveiled a coupe style SUV which it plans to launch in the next two years.
Meanwhile, Sensex was trading 562 points lower at 58,402 and Nifty lost 198 points to 17,476 in the afternoon session.
Shares of Tata Motors fell nearly 4 per cent today despite the group reporting a 2 per cent year-on-year growth in global wholesales. Tata Motors stock touched an intraday low of Rs 435, down 3.77 per cent against the previous close of Rs 452.05 on BSE. The share opened at Rs 418.80.
Tata Motors stock is trading higher than 20 day and 200 day moving averages but lower than 5 day, 50 day and 100 day moving averages.
The stock has gained 53.33 per cent in one year but lost 9 per cent since the beginning of this year. Market cap of the firm fell to Rs 1.45 lakh crore on BSE.
ALSO READ: Tata Motors to ramp up EV production as demand rises: Top exec
Total 13.66 lakh shares changed hands amounting to a turnover of Rs 59.99 crore.
The share hit a 52-week high of Rs 536.50 on November 17, 2021 and a 52-week low of Rs 268.50 on August 24, 2021.
Sales for Jaguar land Rover came at 3,34,884 units in the March quarter of FY22.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q4 FY22 stood at 1,22,147 units, higher by 12 per cent over the same quarter of the earlier fiscal.
For all passenger vehicles, global wholesales declined 4 per cent at 212,737 units in the March quarter of the just-concluded fiscal as compared to Q4 FY21. Global wholesales for Jaguar Land Rover were 89,148 vehicles, including 12,622 units delivered by CJLR, it said. CJLR is a joint venture between JLR and Chery Automobiles, which is an unconsolidated subsidiary for JLR.
In a related development, Tata Motors is planning to raise the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin.
The Mumbai-based automaker has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range.
The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market. It has also recently unveiled a coupe style SUV which it plans to launch in the next two years.
Meanwhile, Sensex was trading 562 points lower at 58,402 and Nifty lost 198 points to 17,476 in the afternoon session.