Tata Motors stock settles 5% down; m-cap falls ~51 bn
Shares of Tata Motors on Monday settled nearly 5 per cent down on Jaguar Land Rover’s (JLR's) plans to cut jobs and scale back production at some of its UK units. The company's scrip opened at ~351.50 and fell to an intraday low of ~337.90. It finally settled at ~338.95, down 4.96 per cent over its previous close. On the NSE, the stock declined to an intra-day low of ~337.55, before finally settling at ~340, down 4.78 per cent. The company’s market cap fell ~51.11 billion to ~978.67 billion.