Skip to content
Search

Latest Stories

Tata Motors Shares Decline Over 29 Per Cent After Record Losses At Jaguar Land Rover

SHARES in India’s Tata Motors slipped almost 30 per cent today (8) after its Jaguar Land Rover (JLR) unit in UK recorded its biggest quarterly loss in recent years.  

Fall in Chinese demand for luxury cars, uncertainty over Brexit, and rising debts have adversely hit the auto manufacturer. 


JLR yesterday (7) announced a net loss of Rs 270 billion in the quarter ended in December owing to a £3bn write-down on JLR. That compared to a profit of Rs 12bn for the same period last year. 

The auto maker made a record loss in Indian business history,crossing the deficit recorded by Indian Oil Corporation in 2012, according to Bloomberg. 

Tata Motors share price on India’s bench mark Bombay Stock Exchange (BSE) today (8) fell to a new 12 month low of Rs 141.90, down 22.41 per cent compared to the previous close of 182.90 yesterday (7). 

Fall in share price was Tata Motors' biggest intraday fall in 26 years.  

"This is a difficult time for the industry, but we remain focused on ensuring sustainable and profitable growth, and making targeted investments, that will secure our business in the future," JLR chief executive Ralf Speth said commenting on the quarterly results.

Tata Motors said it wrote down its JLR investment following to rigid market situation and expanding debt.

More For You

JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less