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Tata Motors adds 3% despite dismal April sales
At 0950 hrs, Tata Motors was quoting Rs 212.60, up 2.63 percent on the BSE.
Shares of Tata Motors added nearly 3 percent intraday on May 3 despite the company reporting muted sales for April 2019.
The company in its BSE release said that domestic sales dropped 20 percent in April 2019, at 42,577 units against 53,511 units YoY.
The Mumbai-based car and truck manufacturer said its commercial sales went down by 18 percent at 29,883 units last month compared to 36,276 units in April 2018.
Sales of medium and heavy commercial vehicles (M&HCV) dropped a staggering 33 percent. However, the company witnessed a small 1 percent increase, in its tipper segment, over the year-ago period.
Tata Motors' domestic passenger vehicle sales fell 26 percent to 12,694 units, compared with 17,235 units sold in April 2018, while exports declined 53 percent.
At 0950 hrs, Tata Motors was quoting Rs 212.60, up 2.63 percent on the BSE.
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