Tata Motors shares fall; JLR sales disappoint

Reuters Market Eye - Shares in Tata Motors fall 1.6 percent after unit Jaguar Land Rover Ltd's (JLR) May sales came below analysts expectations, dealers said.

The company said in a statement on Sunday that global wholesales of its JLR unit, which Tata purchased for $2.3 billion in 2008, stood at 31,210 in the month, a rise of 3.7 percent from a year ago.

"Sales have been below expectation mainly due to lower Land Rover volumes. April-June is a slower period historically," said an analyst at a domestic brokerage house.

Tata's overall global wholesale vehicle sales fell an annual 17.5 percent in May.

 

At 12.40 p.m., Tata Motors shares were trading down at 291.90 rupees.

(Reporting by Abhishek Vishnoi)