Mumbai: Tata Motors shares Wednesday fell 2 percent after data showed decline in sales of its luxury brand Jaguar Land Rover in February, following which company's market capitalisation eroded by Rs 5,520.96 crore.
Sales of luxury brand Jaguar Land Rover declined by 1.2 percent to 38,541 units in February, as compared to 39,011 units during the same month a year ago.
Reacting to this, shares of Tata Motors opened on a bearish note today and then fell as much as 2.61 percent to touch an intra-day low of Rs 556.60 on the BSE.
At the end of today's trading session, the stock was quoted at Rs 560.10, down 2 percent from its previous close.
Accordingly, the market capitalisation of the company fell by Rs 5,520.96 crore to Rs 1,50,895.88 crore.
The market capitalisation of the company stood at Rs 1,56,416.84 crore yesterday.
Tata Motors yesterday reported a growth of 5 percent in its global sales, including Jaguar Land Rover, at 83,951 units in February. The company had sold 79,996 units in the same month of 2014.
In the passenger vehicles category, the global sales last month stood at 52,477 units, up 3.35 percent.
It had sold 50,775 units in February 2014, the company had said in a statement.
Sales of commercial vehicles increased by 8 percent in February to 31,474 units from 29,221 units a year ago.
