Tata Group Stocks Dive Amid News Of Rata Tata 'Hospitalisation'

Several major Tata companies, including Tata Motors, Tata Steel, Tata Chemicals, Indian Hotels, NELCO, Tata Consumer, and Titan, saw declines in their stock prices

By : ABP News Bureau | Updated at : 07 Oct 2024 01:41 PM (IST)

Tata Motors' stock was trading at Rs 929.95, reflecting a slight dip of 0.086 per cent from the previous close.
Source : ABPLIVE AI

Shares of Tata Group companies dropped sharply on Monday following news of Ratan Tata's hospitalisation early in the day. However, shortly after the reports surfaced, Tata clarified that he was undergoing routine medical check-ups and assured the public that there was no cause for concern.

In a social media post on Instagram, Ratan Tata expressed his gratitude for the public's concern, stating that he is in good spirits and undergoing regular medical check-ups. He reassured everyone that there is no need for worry.

Several major Tata companies, including Tata Motors, Tata Steel, Tata Chemicals, Indian Hotels, NELCO, Tata Consumer, and Titan, saw declines in their stock prices. However, some Tata firms, such as Tata Coffee, Tata Metaliks, Tata Steel Long Products, and TCS, posted gains. Meanwhile, Tejas Networks and Artson Engineering were among the top losers, falling by 5.1 per cent and 5 per cent, respectively.

ALSO READ | Industrialist Ratan Tata Undergoing Medical Checkups, Says No Cause For Concern

Tata Motors shares were in the spotlight on Monday, following Jaguar Land Rover's (JLR) announcement of a 33 per cent year-on-year (YoY) sales growth for September. Tata Motors' stock was trading at Rs 929.95, reflecting a slight dip of 0.086 per cent from the previous close. Over the past year, the stock has gained 50 per cent, with a 17 per cent increase since the start of the year.

In September, JLR's UK sales hit 10,807 units, up from 8,125 in September 2023. Land Rover saw a 47 per cent surge in sales, with 8,933 units sold in September 2024, compared to 6,117 units the previous year. This follows 2,681 units sold in August and 6,121 units in July.

Meanwhile, Jaguar sales dropped nearly 10 per cent, with 1,814 units sold in September 2024, down from 2,008 in September 2023.

As of 1:15 p.m. on Monday, the benchmark indices were trading lower. The BSE Sensex dropped by 616 points, standing at 81,073, while the NSE Nifty50 was down by 222 points, trading at 24,973.

ALSO READ | SBI To Recruit 10,000 Employees, Expand Branch Network Across India

Published at : 07 Oct 2024 01:41 PM (IST)
Tags :
Ratan Tata Tata Steel Tata Motors Tata Group Stocks Tata Stock Tata Share Price Rata Tata Hospitalisation

Follow Business News on ABP Live for more latest stories and trending topics. Watch breaking news and top headlines online on ABP News LIVE TV
View More