Tata Motors shares hit 10% lower circuit
Shares of Tata Motors slumped on Tuesday to and hit the 10 per cent lower circuit for a brief period. At 3 pm, its shares on the BSE were at Rs 321.40, lower by Rs 24.65 or 7.12 per cent from its previous close.
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Mumbai: Shares of Tata Motors slumped on Tuesday to and hit the 10 per cent lower circuit for a brief period. At 3 pm, its shares on the BSE were at Rs 321.40, lower by Rs 24.65 or 7.12 per cent from its previous close. It has touched an intra-day low of Rs 311.45 per share. After a positive trend for a large part of the day, the decline started around 2 p.m.
Jaguar Land Rover (UK), a wholly-owned subsidiary of Tata Motors, on Tuesday said that its wholesales were lower than what the demand would have permitted during the April-June period due to semiconductor supply issues affecting the global auto industry.
Thierry Bollore, Jaguar Land Rover Chief Executive Officer noted that the supply shortage of semiconductors continues to be a challenge for the industry. "We are pleased to see the gradual economic recovery from the pandemic with customers returning to our showrooms driving double-digit year-on-year sales growth in all regions, demonstrating the continuing appeal of Jaguar and Land Rover vehicles. While the present semiconductor supply shortages continue to be a challenge for the industry, we are encouraged by the strong demand we see for our vehicles," he said. Jaguar Land Rover retail sales for the three-month period to June 30, 2021 were significantly up year-on-year, reflecting the continuing recovery in demand from the Covid-19 pandemic, particularly compared to a year ago, said a company statement, adding that wholesales in particular, however, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry.
