Tata Motors stocks fall over 3% over weak global sales of JLR

Mumbai: The stock price of Tata Motors fell over 3 per cent on Friday after weak demand in China impacted the retail sales of Jaguar Land Rover (JLR), down 4.1 per cent during February.

Share price of Tata Motors fell up to 3.77 per cent on the BSE during the afternoon session. At 1.28 p.m., it traded at Rs 182.85 apiece, down Rs 6.35 or 3.36 per cent.

JLR retail sales fell in February to 38,288 vehicles, down 4.1 per cent compared to February last year.

“Retail sales were up significantly in North America (25.4 per cent), UK (11.3 per cent) and modestly higher in Europe (1.1 per cent) but weaker market conditions continued to weigh on sales in China (down 47.6 per cent),” JLR said in a statement.