Tata Motors falls below Rs 100-mark; hits lowest level since September 2009

The stock of the automobile firm has fallen 21 per cent in the past three trading days after the company lowered its FY20E EBIT margin guidance for Jaguar Land Rover by 1% from 3% earlier.

Shares of Tata Motors slipped below the Rs 100-mark, for the first time since September 4, 2009, to quote at Rs 98.65 on the BSE on Wednesday. The stock skid 7 per cent in the intra-day session today.

The stock of the automobile firm has fallen 21 per cent in the past three trading days after the company lowered its FY20E EBIT (earnings before interest and tax) margin guidance for Jaguar Land Rover (JLR) by 1 per cent (from around 3 per cent prior guidance) due to a steep decline in China retail (-85 per cent Y/Y) and supply-chain disruption.

Tata Motors,