Tata Motors, India's largest automobile company, fell on Wednesday after Jaguar Land Rover (JLR), a subsidiary of the company registered lower-than-expected growth.
The company reported a growth of 3% in sales during February 2013. It sold 26,855 vehicles during February. During the first two months of the year, Jaguar Land Rover sold 61,732 vehicles, up 18%.
In February, sales were up in almost every major market, 20% in Asia Pacific, 20% in North America, 15% in the UK, and 6% in Europe. In China, sales were down by 22% reflecting the Chinese New Year falling in February this year and January last year.
Shares of the company are trading at Rs 300.30, down Rs 4, or 1.31% at the Bombay Stock Exchange (BSE) on Wednesday at 12:26 p.m.
The scrip has touched an intra-day high of Rs 306 and low of Rs 297.35. The total volume of shares traded at the BSE is 973,447.
In the earlier session, the shares rose 0.96%, or Rs 2.9, at Rs 304.30. Currently, the stock is trading down 10.9% from its 52-week high of Rs 337.05 and above 47.97% over the 52-week low of Rs 202.95.
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