Tata Motors fell 2.08% to Rs 393.90 at 13:49 IST on BSE on concerns of slowdown in China's luxury car market after Brilliance China Automotive Holdings issued a profit warning yesterday, 13 July 2015.
Meanwhile, the BSE Sensex was up 20.99 points, or 0.08%, to 27,982.18.
On BSE, so far 4.57 lakh shares were traded in the counter, compared with an average volume of 5.97 lakh shares in the past one quarter.
The stock hit a high of Rs 403 and a low of Rs 392.60 so far during the day. The stock hit a record high of Rs 605.32 on 3 February 2015. The stock hit a 52-week low of Rs 392.60 on 14 July 2015.
The stock had underperformed the market over the past one month till 13 July 2015, falling 4.59% compared with 5.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 27.64% as against Sensex's 3.73% fall.
The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.
Brilliance China Automotive Holdings, which makes BMW cars in China, issued a profit warning on Monday, 13 July 2015, citing slowing sales in the world's biggest car market.
Brilliance, which makes minivans for China's domestic market and assembles luxury cars for BMW via its joint venture with the German carmaker, said it expected first-half profit to fall 40% from a year earlier mainly because of lower results from its BMW Brilliance 50% owned joint venture.
Worries of a slowdown in China's luxury car market hurting Jaguar Land Rover (JLR) sales is weighing on Tata Motors' stock. China is the biggest market for JLR. After witnessing a strong growth of 47% compound annual growth rate (CAGR) over financial year (FY) 2010 to FY 2015, JLR has been reporting weak headline retail sales in China since January 2015, reports suggested.
On consolidated basis, Tata Motors' net profit fell 55.8% to Rs 1747.43 crore on 3.4% rise in total income to Rs 67821.21 crore in Q4 March 2015 over Q4 March 2014.
Tata Motors is the leader in commercial vehicles, and among the top in passenger vehicles with products in the compact, mid-size car and utility vehicle segments. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is JLR, acquired in 2008.
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