Tata Motors crashes 29% on biggest-ever quarterly loss; settles 18% lower

The company expects the EBIT (earnings before interest and tax) margin for the fiscal year 2018-19 ending March 31 to be "marginally negative", management said.

Shares of Tata Motors nosedived as much as 29.45 per cent to Rs 129 apiece on National Stock Exchange (NSE), their fresh 52-week low, a day after the auto major reported the biggest quarterly loss among Indian corporates as it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter. The stock, however, ended at Rs 150 levels, down nearly 18 per cent on the NSE. In comparison, the Nifty 50 closed 1.2 per cent lower at 10,944 levels.

The company logged non-cash loss of Rs 26,961 crore, the largest in the company’s