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Tata Motors hit by JLR disappointment

Reuters/ 16 Jul 12 | 05:10 PM
Related to : Tata Motors Ltd
 Tata Motors Ltd
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BSE   17 Apr 15 | 12:00 AM

535.20  -5.2 (-0.96%)

NSE   17 Apr 15 | 12:00 AM

535.35  -5.9 (-1.09%)

Tata Motors shares fell 2.8 percent after unit Jaguar Land Rover posted lower global sales than expected in June.

Sales of JLR vehicles stood at 28,215, below market expectations for at least 29,000 units sold, according to traders.

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Disappointing operating at Jaguar Land Rover in January-March raised concerns Tata Motor's key earnings driver was losing speed during a worrisome period for the global economy.

Higher costs and slower economic expansion have dented demand in India's automobile sector, forcing an industry body to cut its outlook for the year last week.

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