Tata Motors Hits 52-Week Low In Morning Trade, Falls 3 Per Cent On Bourses

Wednesday, August 17, 2011

Shares of Tata Motors dropped by nearly 3 per cent to hit a one-year low on the bourses in morning trade on Wednesday after the company's global sales declined by 6 per cent in July vis-a-vis the same month last year.

The company's scrip fell by 2.71 per cent to hit a 52-week low of Rs 780 on the BSE. Similarly, on the NSE, the stock went down by 2.70 per cent to touch a one-year low of Rs 779.85.

Tata Motors on Tuesday said its global sales stood at 85,392 units in July, down 6 per cent compared to the same month last year.

Sales of luxury vehicles from the Jaguar Land Rover stable were flat, at 19,119 vehicles in July.

The decline in the stock was in sharp contrast to the surge in the broader market with the BSE benchmark Sensex trading higher by 150.87 points at 16,881.81 at 1010 hours.

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