Tata Motors down by 7 percent; JLR sales in US decrease by 2 percent for April

Tata motors scrip traded weak on Wednesday due to the declaration of  JLR sales data from US markets. The sales are down by 2 percent for the month of April, 2016 when compared to the month of April in previous year. The sales in April for both the brands i.e Jaguar & Land Rover hit 6,275 units, down by 2 percent from 6,390 units in April 2015. 

Land Rover sales in April were reported at 5,188 units, down from 5,311 units in April 2015. The sales for Jaguar brand in April  were reported at 1,087 units, an increase of 1 percent as compared to 1,079 units in April 2015. 

 The Tata Motors shares have crashed on Wednesday by trading 7 percent down from its Tuesday's close at Rs. 381.80. The BSE Sensex has also traded in the negative for the session on Wednesday while closing at 25,101 levels , down by almost 0.51 percent.  Tata Motors has a 3.11 weightage in the BSE Sensex and was a major factor for the index to be down by almost 127 points.  Adani ports and ICICI Bank are the other stocks that put pressure on the Sensex; while HDFC twins provided support to the Index and stopped the Index from crashing further. HDFC was up by almost 3 percent; and HDFC Bank was up by almost 1 percent. Adani ports has closed down by almost 12 percent and ICICI Bank is down by almost 3 percent at market closing hours. 

Tata Motors shares have been outperforming markets when one considers a 3 months time period. On 1 year basis, the stock is down by almost 25 percent. At current levels the stock is trading above its 200 DMA and 50 DMA.