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Tata Motors declines 4% on S&P rating downgrade

Press Trust of India  |  New Delhi 

Shares of plummeted by nearly 4 per cent Wednesday after Global Ratings downgraded the credit rating of the and its British arm Automotive Plc.

The stock dropped 3.7 per cent to settle at Rs 169.2 on the BSE. During the trading session, the scrip touched a low of Rs 168.7, a decline of 3.98 per cent.

On the NSE, the stock closed at Rs 170.05, down 3.24 per cent from the previous close. It had touched a low of Rs 168.60 and a high of Rs 173 during the trading session.

In a regulatory filing to the stock exchanges Tuesday, said Global Ratings has downgraded the credit rating of the company and Automotive Plc citing weak profitability at its British arm

Last month, had changed Tata Motors' rating outlook to negative from stable, citing expectations of weak operating performance of

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 17:35 IST