Tata Motors corrects over 7% in five days

Image
Capital Market
Last Updated : Aug 23 2022 | 1:04 PM IST

Tata Motors declined 0.29% to Rs 453.15, extending losses for the fifth consecutive trading session.

Shares of the auto major have fallen 7.46% in five trading sessions from its recent closing high of Rs 489.70 on 16 August 2022.

On the BSE, 3.92 lakh shares were traded in the counter so far compared with average daily volumes of 6.61 lakh shares in the past two weeks. The stock hit a high of Rs 457.55 and a low of Rs 447.75 so far during the day.

The stock hit a 52-week high of Rs 536.5 on 17 November 2021. The stock hit a 52-week low of Rs 268.5 on 24 August 2021.

The stock had underperformed the market over the past one month, rising 0.81% compared with 5.11% rise in the Sensex.

The scrip had also underperfromed the market in past three months, jumped 7.48% as against Sensex's 7.97% rise.

However, the counter had overperformed the market in past one year, soaring 63.62% as against Sensex's 5.51% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 45.882. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day and 100-day simple moving average (SMA) placed at 438.49 and 433.57, respectively. These levels will act as crucial support zones in near term.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

The auto major reported a consolidated net loss of Rs 5,006.60 crore in Q1 FY23 as against a net loss of Rs 4,450.92 crore in Q1 FY22. Revenue from operations increased 8.3% YoY to Rs 71,935 crore in Q1 June 2022.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 23 2022 | 12:24 PM IST

Next Story