Tata Motors scrip slides 5% in afternoon trade

Tata Motors stock slumped over 5 per cent today to Rs 351.75 following sudden death of its Managing Director Karl Slym as well as a weak equities market.

Opening higher at Rs 365.80, shares of the company declined and touched intra-day low of Rs 350.25, down 5.47 per cent at 14:31 hrs.

Slym died yesterday after he fell from the 22nd floor of a hotel in Bangkok, where he had gone to attend a board meeting of the company's Thailand arm.

He was leading Tata Motors at a time when the auto industry is going through challenging times amid prolonged slowdown.
 

The broader market too was jittery with the benchmark 30-share Sensex tumbling 372 points to 20,761.51 points in the afternoon session.

The steep fall was mainly on account of global market sell off and foreign fund outflows.