Tata Motors is trading lower by 2% at Rs 293 in early morning deals after the company continued its poor sales performance during the month of August 2013 as the domestic commercial (CV) and passenger vehicle (PV) volumes maintained the downward trajectory following weak consumer demand and slowdown in industrial activity.
Total volumes including exports posted a sharp decline of 30.9% yoy (3.6% mom) to 49,611 units in August with CV and PV segments registering a sharp decline of 26.6% and 48.2% yoy respectively.
Within the CV space, domestic medium and heavy and light commercial vehicle segments witnessed a decline of 43.8% and 18.2% yoy respectively. While in the PV segment, utility vehicle and passenger cars witnessed a decline of 38.9% and 50.6% yoy respectively, analyst at Angel Broking said in a note.
Exports however, posted a growth of 11.9% yoy (14.4% mom) during the month.
The stock opened at Rs 297 and hit a low of Rs 292 on BSE. A combined around 35,000 shares change hands on the counter in opening deals on BSE and NSE.
Total volumes including exports posted a sharp decline of 30.9% yoy (3.6% mom) to 49,611 units in August with CV and PV segments registering a sharp decline of 26.6% and 48.2% yoy respectively.
Within the CV space, domestic medium and heavy and light commercial vehicle segments witnessed a decline of 43.8% and 18.2% yoy respectively. While in the PV segment, utility vehicle and passenger cars witnessed a decline of 38.9% and 50.6% yoy respectively, analyst at Angel Broking said in a note.
Exports however, posted a growth of 11.9% yoy (14.4% mom) during the month.
The stock opened at Rs 297 and hit a low of Rs 292 on BSE. A combined around 35,000 shares change hands on the counter in opening deals on BSE and NSE.