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Published on 23/04/2021 3:22:38 PM | Source: Accord Fintech

Tata Motors falls as its arm to temporarily suspend production at 2 plants from April 26

Posted in Stock Market| #Tata Motors Ltd. #Auto Sector #Stock Market

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Tata Motors is currently trading at Rs. 292.60, down by 1.95 points or 0.66% from its previous closing of Rs. 294.55 on the BSE.

The scrip opened at Rs. 292.00 and has touched a high and low of Rs. 299.95 and Rs. 290.75 respectively. So far 2343158 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 357.00 on 03-Mar-2021 and a 52 week low of Rs. 74.00 on 24-Apr-2020.

Last one week high and low of the scrip stood at Rs. 308.10 and Rs. 290.75 respectively. The current market cap of the company is Rs. 98364.12 crore.

The promoters holding in the company stood at 46.41%, while Institutions and Non-Institutions held 25.69% and 17.10% respectively.

Tata Motors’ wholly owned subsidiary -- Jaguar Land Rover (JLR) is planning to temporarily suspend production at two of its plants from April 26 due to supply chain disruption due to COVID-19 pandemic. The company's wholly-owned subsidiary, JLR UK, is currently experiencing some Covid-19 supply chain disruption, including the global availability of semiconductors, which is having an impact on its production schedules and ability to meet global demand for some of their vehicles.

As a result, JLR have adjusted production schedules for certain vehicles which means that the Castle Bromwich and Halewood manufacturing plants will be operating a limited period of non-production from Monday, April 26, 2021. Manufacturing would, however, continue at the Solihull plant. JLR is working closely with affected suppliers to resolve the issues and minimise the impact on customer orders wherever possible.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

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