Tata Motors dips nearly 4% after group's wholesale numbers decline 27% in Sept 2019

The share price of Tata Motors fell almost 4% after the automobile manufacturer informed the exchanges that the group's global wholesale amounting to 89,912 units went down by 27% in September 2019 as compared to the same period last year.

Post the announcement, the Tata Motors shares fell 3.81% to hit the intraday low of Rs 116.25, against the previous close of Rs 120.85 on the BSE. The stock rose to an intraday high of Rs 120 which was also its opening price for the day.

Tata Motors is trading lower than 5, 20, 50, 100 and 200-day moving averages.  Tata Motors share has fallen over 30% year to date and 3.5% in the last week. The share trades 9.6% higher than its 52-week low recorded at Rs 106 on BSE. Overall, the BSE Auto index was trading 1.27% lower.

The automaker's filing read, "The Tata Motors Group global wholesales in September 2019, including Jaguar Land Rover, were at 89,912 units, lower by 27%, as compared to September 2018."

The filing added that the company's global wholesale for all the commercial vehicles stood at 28,524 units, down 45% compared to the period during last year. The passenger vehicle global wholesales stood at 61,388 units which recorded a de-growth of 14% compared to September 2018.

As of 1345 IST, shares of Tata Motors were trading 2.90% lower at Rs 117.35 on the BSE.

By Rupa Burman Roy

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