Tata Mo­tors stock settles 5% down; m-cap falls ~51 bn

Business Standard - - THE SMART INVESTOR -

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.

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