May 21, 2019 / 4:27 AM / 4 months ago

BUZZ-Tata Motors falls on dwindling quarterly sales of Jaguar Land Rover

** Shares of automaker fall ~4% to 181.65 rupees, a day after announcing Q4 results

** On Monday, Tata Motors posted a 47% drop in qtrly profit, as it kept struggling to sell its luxury Jaguar Land Rover (JLR) cars

** Recent channel checks with dealers in China show that progress on ground has been slow with dealers still incurring losses on JLR sales - Jefferies

** Brexit-related disruption and a slowdown in sales in China, once Jaguar Land Rover’s fastest-growing market, have hammered Tata’s finances.

** Domestic rival Maruti Suzuki India Ltd forecast weak growth for the year ending March 2020, partly blaming a consumer-led slowdown and tighter liquidity

** More than 11.3 mln shares TAMO change hands, 33.9 times the 30-day moving avg

** Up to Monday’s close, stock had risen 10.1% so far this year (Reporting by Chandini Monnappa in Bengaluru)

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