Shares of Tata Motors fell nearly 6% on Monday after the company-owned Jaguar Land Rover suspended shipments of vehicles from facilities in the UK to the U.S. to create new deal terms after the tariff structure changes.
Stocks fell 11.61% ₹542.55 in BSE’s indoor trade, its 52-week low. The company’s shares are finally over ₹579.85, down 5.54%.
In NSE, stocks fell 5.33% ₹581.10. During the session, it fell to 12.72%, reaching a 52-week low ₹535.75.
The company’s market valuation has eroded ₹12,502.84 million to ₹2,13,463.01 million.
The stock market benchmark index was in trouble on Monday amid tariff hikes and retaliation by U.S. President Donald Trump, which reflected a sharp decline in global stocks, has raised concerns that global economic growth will affect global economic growth.
30 shares of BSE Sensex hit 2,226.79 points, or 2.95%, and settled 73,137.90, recording its third-day decline. During the day, the index fell 3,939.68 points, or 5.22%, to 71,425.01.
NSE Nifty fell 742.85 points, or 3.24% of settlements at 22,161.60. Indoor, the benchmark fell 1,160.8 points, or 5.06%, to 21,743.65.
“The United States is an important market for JLR luxury brands. As we work to resolve new deal terms with our business partners, we are developing short-term actions, including the April freight suspension, as we have a medium-term to long-term plan,” a JLR spokesperson said in a statement last week.
Earlier, the company said on April 2 that its luxury brands have global appeal, its business is resilient, and is used to changing market conditions.
It noted: “Our priorities are now being offered to customers around the world and addressing these new U.S. deal terms.”
Jaguar Land Rover is deeply rooted in the U.S. market.
About 23% of the more than 400,000 units sold in FY24 are in the United States. These are exported from their UK factories.
The Trump administration’s 25% tariff on imported cars will take effect on April 3.
This article was generated from the Automation News Agency feed without the text being modified.
