Tata Motors down 4%; mcap dips Rs 4,835 crore on JLR sales drop

 

Tata Motors down 4%; mcap dips Rs 4,835 crore on JLR sales drop

  Shares of Tata Motors fell by nearly 4%, wiping out Rs 4,835 crore from its market valuation today, after Jaguar Land Rover (JLR) retail sales went down in April.

 

The stock declined by 3.84% to close at Rs 419.75 on BSE. Intra-day, it dipped 4.22% to Rs 418.05.

The stock was the top loser among the BSE 30-share components.

On NSE, it slipped 3.87% to end at Rs 419.60.

The company's market valuation too dropped by Rs 4,835.55 crore to Rs 1,21,196.45 crore.

On the volume front, 14.14 lakh shares of the company were traded on BSE and over 94 lakh shares changed hands at NSE during the day.

Tata Motors-owned JLR today reported retail sales of 40,385 units for April, down 2.3% from the same month of last year.

The Jaguar brand posted record retail sales of 12,310 units in April, up 54%, driven by the ongoing success of the Jaguar F-PACE as well as strong sales of the XE.

The Land Rover saw sales of 28,075 vehicles in April, down 15.8% as compared to April 2016.