Tata Motors hits 52-week low on weak JLR numbers

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Shares of Tata Motors touched 52-week low at Rs 160.75 on Friday after Jaguar Land Rover reported weak sales numbers for November.

“Jaguar Land Rover reported total retail sales of 48,160 vehicles in November 2018, down 8 per cent year-on-year reflecting continuing challenging market conditions in China,” the company said in a BSE filing. “Sales in China were 50.7 per cent lower than a year ago as market conditions remained difficult with continuing consumer uncertainty following tariff changes and trade concerns.”

The scrip recovered in the afternoon trade and was 0.65 per cent up at Rs 163.45 at around 12.10 pm. The benchmark BSE Sensex was up 0.39 per cent at 35,449.89.

Tata Motors stock opened at Rs 162.60 on the BSE against its previous close of Rs 162.40.

Source: Economic Times