Shares of Tata Motors fell over 16 pct on Tuesday after JLR sales declined
- Country:
- India
Shares of Tata Motors fell over 16 per cent Tuesday after the company-owned Jaguar Land Rover (JLR) reported a 12.3 per cent decline in global sales in September.
The scrip, after a weak opening, further tumbled 16.19 per cent to Rs 178.30 as the trade progressed on BSE.
On NSE, shares of the company cracked 15.54 per cent to hit its one-year low of Rs 179.35.
The stock was the worst hit among blue chips on both the key indices during early trade.
JLR Monday reported a 12.3 per cent decline in global sales at 57,114 units in September, hit by lower demand in China, the auto major said.
The company's sales in China declined by 46.2 per cent during September as compared to the same month last year as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.
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