Tata Motors tumbles 8% on FY09 loss

Aggressive selling saw Tata Motors tumble to a low of Rs 312. The stock finally ended with a loss of 7.8% at Rs 314. The counter logged relatively heavy volume of around 22.31 million shares as against its two-week daily moving average volume of around 9.51 million shares on the BSE.
_______________________________________________________
(Updated at 1000 hrs)

Tata Motors tumbled nearly 5% to Rs 324 in opening trades this morning after reporting a net loss for the first time in eight years.

The stock is now trading 3% lower at Rs 330, and the counter has seen trades of around 33,500 shares so far on the BSE.

 

Tata Motors posted a net loss of Rs 2,505 crore for the year ended March 31, 2009, thanks to Jaguar Land Rover of Britain, its problematic acquisition.