Tata Motors in losses, shares fall by 5.8%

Tata Motors, India's leading car maker, had a bearish day at National Stock Exchange on Wednesday, as value of its shares plummeted by about 5.8 percent. The company was among the top losers with Sterlite Industries (-6.76%), ICICI Bank (-5.62%), Jaiprakash Associates (-5.29%) and M&M (-5.28%).

Just few days back, Mr. Rajiv Dube, President of the Passenger Car Business Unit, has communicated his decision to resign from the Tata Motors to pursue other interests outside the Tata Group. Mr. Dube has played a vital role in the growth of the company’s passenger car business, since the formation of the division in 1998. 

Tata Motors is India's largest auto-maker, with consolidated revenues of Rs.70,938.85 crores ($ 14 billion) in 2008-09. The company has its operations in major automobile markets of the world  like UK, South Korea, Thailand and Spain, through subsidiaries and associate companies. Company has sold With over 5.9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. 

In April 2010, Tata Motors Group global sales, comprising of Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles along with distributed brands in India, and Jaguar and Land Rover, were 77,732 nos. in April 2010, a growth of 53% over April 2009.