Tata Group stocks shed nearly Rs 90,000 crore on Monday amid a broader market selloff across the the world. Shares of Trent Ltd., Tata Steel Ltd., Tata Technologies Ltd., and Indian Hotels Co. fell the most within the pack.
Intraday, 16 stocks lost nearly Rs 2.3 lakh crore in value.
Apparel retailer Trent was down nearly 15% following bearish commentary from analysts after the company's fourth-quarter business update and a larger market selloff. During the session, the stock revised the lower circuit limit to fall almost 18% to hit a near one-year low.
Trent reported a 28% year-on-year increase in sales growth for the fourth quarter, a slowdown from the 37% growth seen in the previous quarter.
Tata Steel Ltd.'s share price slumped to its lowest in over two months and emerged as the top dragger in the Nifty Metal index. The index slumped 8.6% during the session, extending its three-day decline as US President Donald Trump's aggressive tariff policy may end up causing volatility in international commodity prices.
All Tata stocks down.
All Tata stocks down.
Tata Technologies, involved in product engineering, manufacturing, and digital solutions, fell nearly 6% to hit an all-time low of Rs 597.
The shares of Tata Motors plummeted nearly 13% intraday after its luxury unit Jaguar Land Rover decided to pause exports to the US in light of the auto tariffs announced by Trump.
India’s carmakers are largely insulated from Trump’s move as their exports to the US are miniscule. But Tata Motors is likely to see a second-hand impact, as the exports of JLR have been impacted.
Meanwhile, Tata Consultancy Services Ltd., Tata Chemicals Ltd., and Titan Co. fared better than their group peers, falling less than 2%.
At the end of trade, the total market cap of 16 Tata stocks was Rs 25.3 lakh crore.
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