Tata Motors stocks fall to multi-year low
Stocks of Tata Motors on Wednesday fell to a multi-year low of ₹75.10 per share amidst a sector-wide sell-off in the Indian stock markets.
On the BSE, its share price settled at ₹75.50, lower by ₹2.40 or 3.08% from its previous close.
The sell-off was witnessed across shares in the Indian stock market on the persistent fears of coronavirus severely impairing the global economy.
The S&P BSE Auto Index fell nearly 5% during the day.
Automobile players would face significant impact due to the supply disruption caused in China. According to analysts, the decline in the auto index due to the coronavirus pandemic, is nearing the stock losses caused during the 2008 global financial crisis.
Both the major indices, Sensex and Nifty, dropped to their lowest levels in three years.
Sensex fell 1,709.58 points to close at 28,869.51 and the Nifty50 on the National Stock Exchange settled at 8,468.80, lower by 498.25 points.
