Brexit, high capex to keep Tata Motors under pressure; stock falls

JLR will be investing £4.5 billion each year through to 2021

The share price of Tata Motors has slipped about 12 per cent over the past fortnight on various worries - impact of Britian's leaving the European Union ('Brexit'), high scale of investment over the next couple of years and muted volumes at it UK subsidiary, Jaguar Land Rover (JLR).

The immediate trigger was Brexit, scheduled for the coming March. Global investment banker Goldman Sachs thinks this could affect JLR on both demand front and sourcing costs. Of the company’s eight global plants, three are in Britain and at nearly half a million units, these account for more than half the