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Tata Motors shares dive over 16% to 178.30, hit 52-week low as Jaguar Land Rover global sales decline

New Delhi: Shares of Tata Motors fell over 16 percent on Tuesday after the company-owned Jaguar Land Rover (JLR) reported 12.3 percent decline in global sales in September.

 Tata Motors shares dive over 16% to 178.30, hit 52-week low as Jaguar Land Rover global sales decline

Representational image. Reuters.

The scrip, after a weak opening, further tumbled 16.19 percent to Rs 178.30 as trade progressed on BSE.

On NSE, shares of the company cracked 15.54 percent 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 on Monday reported 12.3 percent 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 percent 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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Updated Date: Oct 09, 2018 14:27:41 IST

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