Shares of Indian carmaker Tata Motors fell 4 percent, after the automaker reported 7 percent decline in sales during April, 2012 over the same month last year.
Tata Motors shares ended 3.82 per cent lower at Rs 304.65 on the BSE. During the day, the stock lost 4.13 per cent to Rs 303.65.
“Markets saw profit booking today in auto and banking stocks” Kishore Ostwal, chairman & managing director at CNI Research said indicating auto stocks would fall further on declining sales numbers in May as well.
The company’s domestic sales including commercial and passenger vehicles for the period under review declined 5% at 57,305 units from 60,125 units sold in the corresponding period of last year.
On the same time, its commercial vehicle sales fell 6% to 34,647 units in the domestic market as medium and heavy commercial vehicle sales plunged 29% to 9,829 units.
Sales of its small car Nano fell 20 per cent last month to 8,028 units, compared to 10,012 units in April last year.