Comments
Shares of Tata Motors fell nearly 20 per cent on Tuesday as the company-owned Jaguar Land Rover (JLR) reported 12.3 per cent decline in global sales in September.
The scrip, after a weak opening, further tumbled to a low of Rs 170.65. At 1.50 pm, the stock was trading lower by 16 per cent at Rs 178.65.
On the NSE, the shares cracked 20 per cent to hit their one-year low of Rs 170.30, before being quoted at Rs 177.95, down by 16.95 per cent. The stock was the worst hit among blue chips on both the key indices.
JLR had on Monday reported 12.3 per cent decline in global sales at 57,114 units in September, hit by lower demand in China.
The company’s sales in China declined by 46.2 per cent during September compared to the same month last year as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.