Meanwhile, the BSE Sensex was down 282.49 points, or 2.79%, to 9,837.52.On BSE, 2.06 lakh shares were traded in the counter. The stock had an average daily volume of 3.64 lakh shares in the past one quarter.The stock hit a high of Rs 175 and a low of Rs 164 so far during the day. The stock has a 52-week high of Rs 790.24 on 3 January 2008 and a 52-week low of Rs 133 on 27 October 2008.
The mid-cap stock had underperformed the market over the past one month till 5 November 2008, declining 45.21% as compared to the Sensex’s decline of 19.21%. It had also underperformed the market in the past one quarter, declining 54.26% as compared to the Sensex’s decline of 32.36%.
The company’s current equity is Rs 514.29 crore. Face value per share is Rs 10.
The current price of Rs 167.70 discounts the company’s Q2 September 2008 annualized EPS of Rs 35.99, by a PE multiple of 4.66.Tata Motors has decided to shut its Jamshedpur plant for three days from 6 November 2008 to 8 November 2008 to match production with demand of vehicles produced at the plant. The block closure is to avoid build-up of inventory.
About 95% of commercial vehicles are purchased through financing and unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases. Tata Motors reported 29% decline in commercial vehicles sales to 19,154 units in October 2008 over October 2007. Tata Motors commands a share of 64% in this segment, according to figures provided by the Society of Indian Automobile Manufacturers (Siam).
Tata Motors' twin rights issue, which ended on 20 October 2008, struggled to raise funds from investors and was later bailed out by the promoters and underwriters. The rights issue was to raise Rs 4,200 crore to part-finance the bridge loan to fund the $2.3-billion Jaguar Land Rover deal.
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. The results were announced on 31 October 2008.
Tata Motors is engaged in manufacturing and marketing heavy, medium and light commercial vehicles, utility vehicles and passenger cars.
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