Tata Motors closes as top Nifty loser today: Here's why automobile major's share tanked around 4%
On Monday, Tata Motors was the highest Nifty loss.
Lower-than-expected JLR revenues in the second quarter of fiscal 2022-23 caused the stock to fall.
JP Morgan had predicted 90,000 Jaguar Land Rover (JLR) sales in the July-September quarter, but the automaker announced lower figures.
Nomura's research, according to Chaturvedi, maintains a Buy rating with a target price of Rs 520 per share.
Tata Motors fell roughly 5% to Rs 393 on both markets on Monday.
The stock fell by 4.5 percent in the last year, compared to the Nifty50's 4 percent drop.
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