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Tata Motors stock closes 4.84% lower amid weak JLR sales

The large cap stock fell 55.07% during the last one year and lost 55.96% since the beginning of this year.  25 of 40 brokerages rate the stock "buy" or 'outperform', 12 "hold" and three "underperform" or "sell", according to analysts' recommendations tracked by Reuters.

twitter-logo BusinessToday.In        Last Updated: November 12, 2018  | 16:16 IST
Tata Motors stock closes 4.84% lower amid weak JLR sales

The Tata Motors stock fell in trade today after its subsidiary Jaguar Land Rover reported a 4.6 per cent decline in total retail sales at 44,282 units in October. The stock was the top Sensex loser and fell up to 3.4% to 188.75 level on the BSE compared to its previous close of 195.40. At 12:09 pm, the stock was trading 3.02% lower at 189.50. It closed 4.84% or 9.45 points lower at 185.95 on the BSE.

The large cap stock fell 55.07% during the last one year and lost 55.96% since the beginning of this year.

25 of 40 brokerages rate the stock "buy" or 'outperform', 12 "hold" and three "underperform" or "sell", according to analysts' recommendations tracked by Reuters.

The stock is trading below its 50 day moving average of 228.41 and 200 day moving average of 275.85.

Sales in China fell 49 per cent as market conditions remained challenging amid tariff changes and continued trade tensions with the US, which are impacting consumer confidence and automotive purchases, Tata Motors said.

Retail sales rose significantly in the UK by 46.9 per cent and North America by 24.1 per cent on the back of newer models -Jaguar I-PACE and E-PACE and refreshed Range Rover and Range Rover Sport, it added.

During the month, Jaguar retail sales were 13,764 units, up 11.6 per cent, driven by the EPACE and I-PACE as well as the long wheel base XEL from the company's Chinese joint venture, JLR said.

On the other hand, Land Rover retailed 30,518 units in October, down 10.5 per cent as increased sales of refreshed Range Rover and Range Rover Sport as well as the Velar were offset by lower sales of the Evoque and Discovery Sport, primarily in China, it added.

Tata Motors is engaged in manufacture of motor vehicles. It is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the company.

The company's segments include automotive operations and all other operations. In the automotive segment, the company manufactures and sells passenger cars, utility vehicles, light commercial vehicles, and medium and heavy commercial vehicles. The company's all other operations segment mainly includes information technology (IT) services, and machine tools and factory automation services.

The company operates in over 160 countries across the world.

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