Tata Motors slumps on Moody's report; stock down 3%

Tata Motors is down 3.5 percent, Rating agency Moodys says Tata Motors diminishing market share is credit negative. The company's private vehicle market share has decreased to 11.8 percent versus 14.2 percent at the end of FY12.

Even Tata's dominant market position in commercial vehicles saw a decline to 56.1 percent from 58.5 percent in 2012. This longer-term erosion of market share is credit negative because it leads to weaker operating performance and key financial metrics.

At 11:51 hrs Tata Motors was quoting at Rs 267, down Rs 8.40, or 3.05 percent. It has touched an intraday high of Rs 272.50 and an intraday low of Rs 264.25. It was trading with volumes of 209,441 shares.

In the previous trading session, the share closed down 0.99 percent or Rs 2.75 at Rs 275.40.

The share touched its 52-week high Rs 337.05 and 52-week low Rs 213.90 on 10 January, 2013 and 26 July, 2012, respectively.

Currently, it is trading 20.78 percent below its 52-week high and 24.82 percent above its 52-week low.

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Tata Motors slumps on Moody's report; stock down 3%

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