Tata Motors skids 10% as China sales slip 85% in Feb; stk down 37% in 1 mth

The company said the reduction in China sales owing to the outbreak of coronavirus, is expected to reduce Jaguar Land Rover's full-year EBIT margin by about 1%

Shares of Tata Motors slipped 10 per cent intra-day to Rs 112.95 on the BSE on Friday after the company said the reduction in China sales owing to the outbreak of coronavirus, is expected to reduce Jaguar Land Rover's (JLR) full-year EBIT (earnings before interest and tax) margin by about 1 per cent.

It, however, added free cashflow in Q4 is still expected to be modestly positive. The coronavirus has significantly impacted China sales with February retails down around 85 per cent year on year, it said.

The stock of the Tata Group automobile's major was trading at its lowest