Shares of Tata Motors on Monday fell more than 2% on the bourses as its global sales, including that of Jaguar Land Rover, in May was below market expectation.
Tata Motors had on Sunday said that its global sales, including Jaguar Land Rover, in May stood at 81,783 units.
While sales of luxury sedans of Jaguar brand stood at 7,061 units, Land Rover sales were at 24,149 units during the month.
Reacting to the May sales numbers shares of the company opened on a weak note at Rs. 297.25, then fell 2.64% to an early low of Rs. 289.05 on the BSE.
On a similar note shares of the company opened at Rs. 155, then fell 2.15% to an intra-day low of Rs. 152.10 on the National Stock Exchange.
In total, sales of luxury brands from Jaguar Land Rover were at 31,210 units.
Total passenger vehicle sales stood at 43,142 units in May. Commercial vehicle sales stood at 38,641 units during the month.
According to market analysts, the May sales figures of Tata Motors were below market expectation largely on account of lower Land Rover volumes and accordingly the shares of the company were trading in the negative territory.