daily stock picks

tata motors reports production cut in february, share price down 4%

Wednesday, Mar 4 2020 11:40AM

The share price of Tata Motors cracked nearly 4 percent in the morning trade on BSE on March 4, a day after the company reported a 34.42 percent cut in production in February 2020 due to coronavirus.

The company produced 37,826 units in the month against 56,826 vehicles in the year-ago period.

The passenger vehicle production fell 32 percent year-on-year (YoY). The commercial vehicle volume, too, registered a 35 percent YoY decline led by a drop of 45.8 percent in the medium and heavy commercial vehicles and a 29.4 percent drop in the light commercial vehicle segment.

Tata Motors admits that the outbreak of coronavirus has hit its India production due to supply-chain challenges from China.The company reported a decline of 34 percent in domestic sales at 38,002 units in February.

Tata Motors share price was 3.76 percent down at Rs 125.50 on BSE at 1105 hours.


arshinic.in

Choose your inspirations! Join our newsletter.

arshinic.in