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Tata Motors to delist ADS, net loss in second qtr narrows to Rs 945 crore

The move will help simplify the company's financial reporting requirements and reduce administrative costs, it said

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Tata commercial vehicles business rose 15 per cent over Q2 FY22 | Photo: Bloomberg

Shally Seth Mohile Mumbai
Tata Motors said on Wednesday that it planned to delist its American Depositary Shares (ADS) from the New York Stock Exchange (NYSE) from January 2023 and terminate its ADS programme, running since 2004. It also reported a higher-than-expected loss at a consolidated level for the quarter ended September over the corresponding period last year due to semiconductor woes. 

The company’s UK subsidiary, Jaguar Land Rover, faced semiconductor shortage that dented its volumes. Net loss at the firm in the second quarter narrowed to Rs 944.61 crore from Rs 4,441.57 crore in the year-ago quarter. The Street had estimated the company's

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First Published: Nov 09 2022 | 11:45 PM IST

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