Tata Motors share has been trading lower on stock market after it reported its Q4 results last week.
Tata Motors Share Price: Tata Motors shares again fell on Thursday (May 16, 2024) by 2.60 per cent on BSE in the morning session. The stock closed at Rs 947.20 on 15th May declined by 2.02 per cent up to Rs 922.10.
Tata Motors shares were trading lower by 2.62 per cent, or Rs 24.80, at Rs 922.40 at 1:24 pm on 16th May. The decline in the stock is seen after the companies muted fourth-quarter results.
After the Q4 results, many of the brokerage firms reduced Tata Motors shares rating which led to the decline of shares by 8% on Monday. On Tuesday shares recovered a bit and closed a bit higher. But on Wednesday it again fell by 1.81 per cent.
TATA Motors Management On Future Performance
After the Q4 results, Tata Motors management said that the company was not expecting good numbers in the current financial year FY25. It also said that it was not expecting good results in the next quarter, reported Zee Business.
The stock achieved its 52-week high of Rs 1,065.60 last on March 5.
Tata Motors On Q4 Results
Tata Motors on 10th May reported an over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 2024, riding with all its three auto businesses delivering a strong performance, especially the British arm Jaguar Land Rover.
The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing.
Total consolidated revenue from operations stood at Rs 1,19,986.31 crore compared to Rs 1,05,932.35 crore in the year-ago period. In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance.
(With Inputs From PTI)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)