Tata Motors shares down 3%; hit 52-week low during intra-day

Tata Motors' scrip fell by nearly 3 per cent, hitting a 52-week low in intra-day, after the firm said many of the 5,800 vehicles that had recently been shipped to China may have been damaged following the recent explosion in Tianjin.
The stock fell by 2.73 per cent to settle at Rs 332.75 on BSE. During the day, it dropped 4.12 per cent to Rs 328 -- its 52-week low.
At NSE, shares of the company lost 2.86 per cent to close at Rs 332.40.
At present, the company commands a market valuation of Rs 95,650.43 crore.
The explosions hit the port city of Tianjin on August 12.

In a regulatory filing the company today said, Tianjin Port is one of three major locations in China through which Jaguar Land Rover imports vehicles.

At the time of the explosion, approximately 5,800 vehicles that had recently been shipped to China were stored at various locations in Tianjin.
"However, access to facilities near the site of the explosion remains restricted and so whilst we believe many of these vehicles may have been damaged, we are presently unable to quantify the numbers of units affected," it said.
We will continue to monitor the situation and work to minimise the impact on our customers and the business, the company noted.

Tianjin is a major port and industrial area to the south-east of the Chinese capital, Beijing.