You are here: Home » PTI Stories » National » News
Business Standard

Tata Motors plunges on S&P rating downgrade

Press Trust of India  |  New Delhi 

Stocks of dropped over 3.5 per cent Wednesday after Global Ratings downgraded the credit rating of the and its British arm Automotive Plc.

After a negative opening on BSE, the scrip further declined 3.27 per cent to Rs 169.95. At 1251 hrs, the stock was trading at Rs 170.75, down 2.82 per cent.

On NSE, following the similar trend, the stock touched an intra-day low of Rs 92.75, down 3.63 per cent from the previous close.

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. 13:10 IST