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Tata Motors Shares Drop 3% Despite Better Than Expected JLR Numbers
Shares in Tata Motors dropped 3 per cent, even as the company reported better than expected sales.
Shares in Tata Motors fell over 3 per cent on the National Stock Exchange despite the auto major's UK subsidiary, Jaguar Land Rover, reporting strong January sales with total retail sales of 47,693 units, up 4 per cent on the prior year.
In line with benchmark indices, shares of company declined as much as 2.2 per cent to hit intra-day low of Rs 513.25 apiece on Bombay Stock Exchange.
In a similar fashion, stocks of firm dipped 2.01 per cent to Rs 515.30 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 28,280, down 160 points, over the previous close.
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