Tata Motors share price fell in trade today after its UK arm Jaguar Land Rover (JLR) reported a decline in US sales for December. Additionally, the firm said production fell 16.17 per cent to 48,350 units in December 2019. Tata Motors had manufactured 57,897 units during the same period a year ago. Tata Motors Passenger vehicles' production stood at 9,552 units in December 2019 as against 12,673 units in December 2018, down by 24.62 per cent. The decline was due to dealer stock adjustments of BS-IV vehicles as the company prepares for the upcoming BS-VI emission norms.
Tata Motors share price lost up to 3.16% intra day to Rs 185 compared to the previous close of Rs 191.05 on BSE. Share price of Tata Motors closed 2.90% or Rs 5.55 lower at Rs 185.50 on BSE. Similarly, BSE auto index fell 2.27% or 416 points to 17,894. Nifty auto index too closed 2.32% or 189.40 points lower at 7,978. Tata Motors share price ended 3% lower at Rs 185.40 on NSE.
Market capitalisation of the firm fell to Rs 53,560 crore. 17.02 lakh shares of the firm changed hands amounting to a turnover of Rs 31.89 crore. The large cap stock has lost 4% in two days. The stock has gained 10% during last one year. The stock has gained 15.76% in last one month. JLR logged a 2% fall in number of vehicles sold in US last year for December.
The UK auto firm sold 13,801 vehicles last month compared to 14,079 vehicles sold in same month last year. While Jaguar's US sales declined 4.4 percent to 3,311 vehicles on an year on year basis, Land Rover's sales slid 1.2 percent to 10,490 vehicles during the same month.
The Tata Group firm reported a standalone net loss of Rs 1,281.97 crore during the second quarter ended September 30, 2019, compared to a net profit of Rs 109.14 crore in the year-ago period.
Standalone revenue for the quarter decreased by 44 per cent to Rs 10,000 crore as compared to Rs 17,758.69 crore in the same quarter last year.