The transaction – the second one in less than a year – is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive. Tata Sons has bought 11.8 million shares of Tata Motors in tranches from last Monday to Friday, according to block deal data. The transaction – the second one in less than a year – is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive. In the quarter that ended in December (Q3), Tata Motors reported a loss of Rs 26,961 crore. The non-cash loss, the biggest ever reported by a corporate entity in India, came on account of an impairment charge of £3.1 billion taken by JLR. It was led by uncertainties around Brexit, slowing sales in China, and technological disruptions.The Tata Motors shares tanked to a 52-week low of Rs 141.90 a piece, down 22.41 per cent or 41 points on 8 February – the day after the earnings were reported, compared to the previous close of Rs 182.90 per share on the BSE. Since then, the stock has… Read full this story
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