Tata Motors declined 3.32% to Rs 330.75 at 12:29 IST on BSE after the company announced that most of the Jaguar Land Rover vehicles recently shipped to Tianjin in China may have been damaged due to explosions at the Tianjin port.
Meanwhile, the BSE Sensex was down 405.04 points, or 1.47%, to 27,211.52
Tata Motors made the announcement during market hours today, 21 August 2015.
On BSE, so far 7.45 lakh shares were traded in the counter, compared with an average volume of 8.5 lakh shares in the past one quarter.
The stock hit a low of Rs 328 in intraday trade so far, which is 52-week low for the counter. The stock hit a high of Rs 340 so far during the day. The stock hit a record high of Rs 605.57 on 3 February 2015.
The stock had underperformed the market over the past one month till 20 August 2015, falling 12.55% compared with 2.86% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 32.32% as against Sensex's 0.82% decline.
The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Tata Motors' British luxury car unit Jaguar Land Rover (JLR) in a press release issued yesterday, 20 August 2015, announced that at the time of explosions in Tianjin in China, approximately 5,800 vehicles of JLR that had recently been shipped to China were stored at various locations at Tianjin port. JLR believes that many of these vehicles may have been damaged. However, access to facilities near the site of the explosion remains restricted and therefore it is presently unable to quantify the number of units affected due to the explosion, JLR said. JLR said it will continue to monitor the situation and work to minimise the impact on its customers and the business.
Tata Motors' consolidated net profit fell 48.7% to Rs 2768.91 crore on 5.6% fall in total income to Rs 61326.75 crore in Q1 June 2015 over Q1 June 2014.
Tata Motors is a market leader in commercial vehicles in India. The company's British unit Jaguar Land Rover sells premium luxury cars.
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