Tata Motors declared its quarterly results on Friday. Its share price tanked down by 9% on Monday in the morning session opening at Rs. 1005 and reaching an intraday low of Rs. 947.20, down by 9%.
About share decline
The company announced Rs. 17407.18 cr and Rs. 1,19,986.31 cr as net profit and consolidated revenues for Q4 FY2024. Both were up by 222% and 13.3% on a year-on-year basis.
Financials
Despite this, various factors led to the sell-down of Tata Motors shares on Monday. This includes a decrease in the order book and the high cost of customer acquisition for JLR.
Selldown of stock
Some other factors are no change in FY25E/26E EPS and a flat outlook for the Indian commercial vehicles industry.
Factors at play
Tata Motors stock was trading in a range of Rs. 947.20 to Rs. 1008.70 in the first half of Monday from the previous closing of Rs.1046.65.