Why Tata Motors Shares Are Dipping Today

Tata Motors’ share price was down on Friday after the company reported its sales numbers for the month of November.

What Happened: The company’s total sales in November was 72,647 units, slightly lower than the 73,467 vehicles it sold in the same month last year. The number was also lower than Nomura’s estimates of around 75,100 units.

Commercial vehicle sales came in at 28,029, down around 4% from the 29,053 units sold in November 2022. Passenger vehicle segment sales were also flat at 46,143, a 1% decrease from the 46,425 units sold in the same period last year.

See Also: Why This Tata Stock Bumped Sharply On Friday Morning

The company’s EV sales were up 7% at 4,761 units, compared to the 4,451 units sold in November of 2022. The shares of the company have climbed close to 12% in the past 30 days, thanks to the blockbuster listing of its subsidiary Tata Technologies.

The company earlier this week also said that it is considering raising prices from January 1.

Price Action: Tata Motor’s share price was down 0.21% to trade at ₹704.95 in the late hours of trading on Friday.

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