Tata Motors share price rose in early trade today despite the auto firm posting a net loss of Rs 9,863.75 crore in Q4. Reports that the company was looking for a strategic partner for domestic passenger vehicle business also pushed the stock higher today. Share price of Tata Motors gained 3% to Rs 103.50 against the previous close of Rs 100.45 on BSE. Market cap of Tata Motors stood at Rs 35,021 crore today. Total 33.09 lakh shares changed hands amounting to turnover of Rs 33.23 crore on BSE. The large cap stock has gained after three days of fall.
The stock has lost 39.49% during the last one year and fallen 46.35% since the beginning of this year. However, in last one month, the stock has risen 17.65% against 8.83% rise in Sensex during the period.
The share trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages. The stock hit 52-week high of Rs 201.80 on January 15 this year and fell to 52-week low of Rs 63.60 on March 24, 2020.
On Monday, Tata Motors share price fell nearly 5% ahead of the firm's Q4 and FY20 earnings. The earnings were announced after market hours . Share price of Tata Motors declined up to 4.85% to Rs 100.15 compared to the previous close of Rs 105.25 on BSE.
Tata Motors had reported a net profit of Rs 1,108.66 crore in Q4 of 2018-19.
The Indian auto giant company said that the novel coronavirus pandemic severely impacted its financials.
"In India, demand which was already adversely impacted by the general economic slowdown, liquidity stress and stock corrections due to BS-VI transition, was further affected by the lockdown. Steep volume decline, particularly MHCV, and resulting negative operating leverage impacted profitability and cash flows," it said.
On Jaguar Land Rover, the filing said that after its return to profit in the second and third quarters, which reflected improvements achieved through its transformation programme, fourth quarter results were significantly impacted by the pandemic. Tata Motors' revenue from operations fell by 27.7 per cent on a year-on-year basis to Rs 62,492.96 crore during the period under review.