Tata Motors was the highest loser on the benchmark Nifty 50 index.
Indian carmaker Tata Motors fell greater than 7% in early commerce on Thursday after reporting a bigger-than-expected drop in quarterly revenue, which pushed a slew of brokerages to slash value targets on the inventory.
The automaker’s inventory was on monitor for its worst day in almost 5 months, and was the highest loser on the benchmark Nifty 50 index, which was buying and selling flat in early commerce.
No less than seven brokerages lowered value targets on the Tata Motors inventory, whereas three lowered their scores, as per knowledge compiled by LSEG, after it posted a 22% drop in its third-quarter revenue on Wednesday.
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