Tata Motors stock has fallen after four days of consecutive gain. The stock opened with a loss of 2.03% at Rs 507 today against the previous close of Rs 517.50 on BSE.
The company said its India operations showed significant improvement as compared to the corresponding quarter a year ago, however, the supply chain issues, and commodity inflation impacted the margins.
Retail sales at JLR, which accounts for most of Tata Motors' revenue, were down 18.4 per cent from a year earlier as the semiconductor shortages hurt production.
Why Tata Motors share slipped 6% in early trade
Share of Tata Motors touched an intraday low of Rs 312.15 , down 6.08% against previous close of Rs 332.35 on BSE
Aseem Thapliyal | May 19, 2021 | Updated 12:10 IST
Tata Motors stock trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
Tata Motors share fell after two days after the Tata Group firm reported a surprise loss of Rs 7,585 crore for the quarter ended March 2021. Consolidated net loss for the January-March period of FY2019-20 came at Rs 9,864 crore. Nomura had pegged net profit for Q4 at Rs 2,813.1 crore. Another brokerage Kotak Securities forecasted the firm posting net profit of Rs 2,721.7 crore in Q4