Tata Motors plunges 10% on reports of CCI probe, coronavirus woes

Shares of Tata Motors tumbled 10 per cent to Rs 130.50 on the BSE on Friday on reports that the Competition Commission of India is examining allegations that the company and two finance firms of its $100 billion parent group abused their market position while selling commercial vehicles. Besides, heavy selling was seen at the counter as concerns on China-originated coronavirus becoming a pandemic soured sentiment. China is one of Tata Motors' most significant markets in terms of volume and profit.

The automobile company allegedly dictated terms around the quantity and type of vehicles its former dealer in northern India -