Tata Motors lost 6.24% to Rs 312 at 12:51 IST on BSE, with the stock extending Friday's slide triggered by the company announcing that most of Jaguar Land Rover vehicles recently shipped to Tianjin, China may have been damaged.
Meanwhile, the BSE Sensex was down 1,033.69 points, or 3.78%, to 26,332.38
On BSE, so far 14.02 lakh shares were traded in the counter, compared with an average volume of 8.64 lakh shares in the past one quarter.
The stock hit a low of Rs 306.85 in intraday trade so far, which is 52-week low for the counter. The stock hit a high of Rs 318.80 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 21 August 2015, sliding 14.62% compared with 2.9% fall in the Sensex. The stock also underperformed the market in past one quarter, sliding 34.91% as against Sensex's 1.59% decline.
The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Shares of Tata Motors had dropped 2.73% to settle at Rs 332.75 on Friday, 21 August 2015. Tata Motors' British luxury car unit Jaguar Land Rover (JLR) in a press release issued on 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 made the announcement during market hours on Friday, 21 August 2015.
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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