Tata Motors shares plunge 30% on Jaguar woes

Shares in India’s Tata Motors tanked almost 30 percent on Friday after problems at its Jaguar Land Rover unit dragged the luxury carmaker to India’s biggest quarterly loss. The Mumbai-based manufacturer has been badly hit by falling demand for luxury cars in China, as well as uncertainty over Brexit and rising debt. It announced Thursday a net loss of 270 billion rupees ($3.8 billion) for the quarter ending December owing to a $3.9-billion write-down on JLR.


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