Meanwhile, the BSE Sensex was down 89.34 points, or 0.99%, to 8,923.59.On BSE, 1.38 lakh shares were traded in the counter. The stock had an average daily volume of 5.29 lakh shares in the past one quarter.The stock hit a high of Rs 138.75 and a low of Rs 133.35 so far during the day. The stock hit a 52-week high of Rs 790.24 on 3 January 2008, and a 52-week low of Rs 122 on 20 November 2008.
The mid-cap stock had underperformed the market over the past one month till 26 November 2008, falling 14.13% as compared to the Sensex's gain of 3.74%. It had also underperformed the market in the past one quarter, declining 66.7% as compared to the Sensex's decline of 37.67%.The company's current equity is Rs 514.29 crore. Face value per share is Rs 10.The current price of Rs 133.70 discounts the company's Q2 September 2008 annualized EPS of Rs 35.99, by a PE multiple of 3.71.The current job cut would hurt the temporary workers at the Pune plant in Maharashtra.
The company had taken a similar step in their other plant in Jamshedpur in Jharkhand. The latest cuts could take the overall layoffs to around 6,000 workers reports added.Tata Motors has been adversely affected by the economic slowdown.Tata Motors' net profit fell 34.1% to Rs 346.99 crore on 6.6% increase in net sales to Rs 7029.33 crore in Q2 September 2008 over Q2 September 2007.Tata Motors is engaged in manufacturing and marketing heavy, medium and light commercial vehicles, utility vehicles and passenger cars.
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