Tata Motors share opened at 165.15 on Friday. The stocks fell by 1.60 percent ahead of union budget. The stock closed at 159.85.
Tata Motors’ reported earlier in the week that its commercial and passenger vehicles sales in the domestic market in June 2019 witnessed a drop of 14% at 49,073 units, as against 56,773 units sold in June 2018, as subdued demand scenario continued.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands, which has suffered over the past few years and pulled down the overall performance of the company.
JLR is now looking to accelerate its business in India as well. The company, which assembles six out of the 11 models that it sells in India, is open to more local manufacturing depending on the market growth of the luxury vehicles in the country.
The BSE group ‘A’ stock of face value Rs 2 has touched a 52-week high of Rs 282 on 10 September 2018 and a 52-week low of Rs 141.90 on 8 February 2019.
Tata Motors shares have fallen over 40% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
The promoter holding in the company stood at 38.37%, while Institutions and Non-Institutions held 35.41% and 15.01%, respectively.
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