Sell Tata Motors With Stop Loss Of Rs 1040

Sell Tata Motors With Stop Loss Of Rs 1040Stock market analyst Salil Sharma has maintained 'sell' rating on Tata Motors Limited stock with a target of Rs 1005.

The strict stop loss for the stock is Rs 1040.

Mr. Sharma said that if the stock fell below Rs 1000, it may see more weakness.

Today, the stock of the company opened at Rs 1025.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1077.20 and a low of Rs 530.10 on BSE.

Current EPS & P/E ratio stood at 51.12 and 20.24 respectively.

The country's major auto maker said that worldwide sales during the last month grew by 29% to 85,114 units.

Tata Motors Ltd said that Jaguar Land Rover (JLR) sales surged 29% in the last month to 16,220 units as against the corresponding period of 2009.

Jaguar sales for the last month increased by 33% to 3,788 units, whilst sales of Land Rover remained up by 28% to 12,432 units.

The company's car sales, comprising those distributed, increased by 35% at 28,012 units.

The company's commercial vehicles sales grew by 25% to hit 40,882 units in the month of August.

Tata Motors will introduce its new 0.5 tonne truck by the concluding quarter of the subsisting fiscal year (2010-11).

The company is setting up divisions in top overseas markets, eyeing to lift up its existence and lend greater focus to its operations in the foreign market.