Tata Motors stock slips 5pc after reporting results

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Shares of the Auto major TataMotors Ltd declined over 5pc after the company on Monday announced tepid earning numbers.  In the Nifty Auto index, Tata Motors were the top index loser by 5.05pc loss in the auto index which was at 8,316 levels

The auto major on Monday reported about 47pc year-on-year decline in profit at Rs1117.48crore for the quarter ended March 31. The Company had posted a net profit of Rs2125.24crore in the equivalent quarter last year, while made a significant loss of Rs26,993crore in the Dec-2018 quarter on account of impairment charges of its JLR.

During mid-morning session, shares of Tata Motors Ltd were trading at Rs180.40, down by Rs.9.75 or 5.13pc from its previous closing of Rs.190.15 on the NSE. The stock opened at Rs185.25 and has touched a high of Rs186.90 and low Rs179.30 each.

In comparison, the Nifty quoted at 11832.90 up 4.65pooints and the Sensex at 39.407.96 up 54.29 points at 10.55am.

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