Tata Motors down 2.6% as Nov sales fall 30%
Continuing with Monday’s trend, shares of Tata Motors fell Tuesday after the company reported a decline of 30 per cent in sales for the month of November.
By ET Online |
MUMBAI: Continuing with Monday���s trend, shares of Tata Motors fell Tuesday after the company reported a decline of 30 per cent in sales for the month of November. At 10:20 am, Tata Motors weaker by 2.6 per cent at Rs 129.30 and the BSE Auto Index was down 3.17 per cent.
On NSE, the Tata Motors December futures was trading at significant discount of Rs 2 to the spot. The contract price slipped 2.27 per cent while open interest added 52,275 shares. Cost of carry was negative at 34 per cent.
Tata Motors reported domestic sales of 32,696 vehicles (including exports) for November, a decline of 30 per cent compared to 46,947 vehicles sold in the same month last year. Sales for the April-November period stood at 338,110 units, down 6 per cent from the year-ago period.
The company's exports at 2,140 vehicles in November 2008, declined by 43 per cent compared to 3,730 vehicles in 2007. Exports for April-November were at 27,741 vehicles, down 22 per cent from 35,562 vehicles sold in the same period last year.
Meanwhile, Tata Motors has said it will shut its commercial vehicle plant in Pune for three days from Dec 5, as it tries to avoid a build-up in unsold stock amid falling sales.
The plant was also closed for six days last month, and the company has closed other plants on a short-term basis to manage inventory levels. According to media reports, the Pune plant would be shut again for three days beginning Dec 26.
On NSE, the Tata Motors December futures was trading at significant discount of Rs 2 to the spot. The contract price slipped 2.27 per cent while open interest added 52,275 shares. Cost of carry was negative at 34 per cent.
Tata Motors reported domestic sales of 32,696 vehicles (including exports) for November, a decline of 30 per cent compared to 46,947 vehicles sold in the same month last year. Sales for the April-November period stood at 338,110 units, down 6 per cent from the year-ago period.
The company's exports at 2,140 vehicles in November 2008, declined by 43 per cent compared to 3,730 vehicles in 2007. Exports for April-November were at 27,741 vehicles, down 22 per cent from 35,562 vehicles sold in the same period last year.
Meanwhile, Tata Motors has said it will shut its commercial vehicle plant in Pune for three days from Dec 5, as it tries to avoid a build-up in unsold stock amid falling sales.
The plant was also closed for six days last month, and the company has closed other plants on a short-term basis to manage inventory levels. According to media reports, the Pune plant would be shut again for three days beginning Dec 26.
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