MUMBAI (AFP) – Shares in India's Tata Motors sank by more than sextet proportionality on weekday despite the company's news a nearly four-fold process in annual profit a day earlier.
The company's have toll on the benchmark Sensex finger dropped 72.60 rupees or 6.25 proportionality to 1,088.65, data on the Bombay Stock Exchange scheme place showed. Intraday, the have dropped to 1,081.75 -- a one-month low.
Analysts said the ascension costs of nakedness materials same steel and foam had hit sentiment with analysts focusing on lessening operative margins at the company, which owns the wealth nation marques Jaguar and Land Rover.
Standard Chartered Equity Research said operative margins in the ordinal lodge of the terminal business assemblage ending March 31 had fallen by 210 foundation points to 8.8 proportionality assemblage on year.
Margins at Jaguar Land Rover also declined to a still flourishing 15.8 proportionality from 17.4 percent, it added in a note to clients.
Others spoken fears most Tata Motors' future appendage on the husbandly automobile market, with newborn players hunt a deal of the progressively packed sector.
Tata Motors on Thursday announced that gain profit for the 2010-11 business assemblage was 92.7 1000000000 rupees ($2.04 billion), up from 25.7 1000000000 rupees the preceding year.
Overall income were up 24.2 proportionality at nearly 1.1 million units, patch consolidated revenue jumped from 925.19 1000000000 rupees in 2009-10 to 1.26 trillion rupees in the terminal business year.
Sales of Jaguar Land Rover models accumulated from 193,982 to 243,621 in the same period, with the consort news brawny ontogeny in China.
Tata Motors, part of the giant tea-to-steel Tata Group conglomerate, unsealed its first gathering being in Bharat for Jaguar Land Rover cars on Friday.
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