Tata Motors stock hits lowest levels since December 2012

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 Tata Motors stock hits lowest levels since December 2012
Tata Motors: Quotes, News
BSE 464.05BSE Quote2.75 (0.59%)
NSE 464.10NSE Quote2.55 (0.55%)
Global car maker Tata Motors sank to its lowest level since December on worries that fuel efficiency guidelines issued by China could impact the company's Jaguar Land Rover models.

The shares of the company were last trading at Rs 276, down 3.13 per cent over Wednesday's close. The stock had hit a 52-week high of Rs 337 in January 2013 and has been sliding ever since.

According to reports China, a major market for Jaguar Land Rover models imposed stringent fuel economy norms, largely aimed to reduce passenger cars' average fuel consumption to 6.9 litres per 100 kilometers by 2015 and down further to 5.0 litres by 2020.

"Fuel efficiency guidelines that were issued by China yesterday might impact JLR negatively as China is 20 per cent of JLR revenues and 40 per cent of EBITDA," Morgan Stanley said in a note.

On the domestic front it has not been good going for Tata Motors, particularly in the passenger car segment, where outlook has been poor for the industry as a whole.

The Tata Motors Group global wholesales in February 2013, including Jaguar Land Rover, were 98,837 nos. Cumulative wholesales for the fiscal were 1,080,421 nos.

Global wholesales of all commercial vehicles - Tata, Tata Daewoo and the Tata Hispano Carrocera range - were 52,175 nos. Cumulative commercial vehicles wholesales for the fiscal were 535,109 nos. Global wholesales of all passenger vehicles were 46,662 nos. Cumulative passenger vehicles wholesales for the fiscal are 545,312 nos.

Global wholesales of Tata passenger vehicles were 11,177 nos. Cumulative wholesales for the fiscal are 215,932 nos. Global wholesales for Jaguar Land Rover were 35,485 vehicles. Jaguar wholesales for the month were 7,102 and cumulative wholesales are 50,191 vehicles, while Land Rover wholesales for the month were 28,383 and cumulative wholesales are 279,189 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal are 329,380 vehicles.

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Read more about: tata motors
Story first published: Thursday, March 21, 2013, 12:43 [IST]
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