Tata Motors shares fell over 6 per cent on Monday after the company on Friday reported 4 per cent decline in sales at 39,973 units for December 2015 compared to 41,734 vehicles in December 2014.The share price was also hit after China stocks slumped 7 per cent after country’s factory activity contracted for the 10th straight month in December, and at a sharper pace than in November, a private survey showed, dampening hopes that the world’s second-largest economy will enter 2016 on steadier footing. China is a key market for its Jaguar Land Rover (JLR) sales.
At 1.50 pm, Tata Motors shares were trading 5.89 per cent down at Rs 378.00. The share price opened at Rs 400 and has touched high and low of Rs 400 and Rs 376.50, respectively, in trade so far. Later, the scrip settled 6.10 per cent down at Rs 377.15.
So far, around 5.40 lakh shares of Tata Motors exchanged hands on the BSE as compared with two-week average daily volume of 3.17 lakh shares.
The promoters holding in the company stood at 33.01 per cent while Institutions and Non-Institutions held 39.16 per cent and 27.83 per cent respectively.
Domestic sales of Tata Motors’ commercial and passenger vehicles declined by 6 per cent at 35,416 units during the month as against 37,776 units sold in December, 2014. Sales of passenger vehicles in the domestic market in December this year stood at 8,069 units as against 12,040 units in the same month previous year, down 33 per cent, Tata Motors said in a statement. As for passenger cars, the sales were 31 per cent lower at 6,900 units in December, as compared to 9,956 units in same period of 2014.