Tata Group Stocks See Rs 90,000 Crore Dip Amid Global Selloff
Tata Group shares declined sharply on Monday, losing close to Rs 90,000 crore in market value as the world witnessed a global market meltdown. A record 16 Tata companies were hit by the slump, and their total market cap declined by some Rs 2.3 lakh crore during intra-day trading. By the closing time, the aggregate market cap had reached Rs 25.3 lakh crore. Equities of Trent Limited, Tata Steel Limited, Tata Technologies Limited, and Indian Hotels Co. were the largest losers in the group.
Apparel retail firm Trent dipped close to 15 per cent as analysts offered guarded insights on its fourth-quarter (Q4) performance. While the company posted a 28 per cent year-on-year (YoY) increase in sales, this was a deceleration from 37 per cent growth in the earlier quarter. The stock also came close to one-year low and reset its lower circuit limit, declining as much as 18 per cent during the day. Also Read - Opening of Colombo Ter
Tata Steel stocks fell to their lowest point in over two months and were the largest drag on the Nifty Metal index, which itself fell 8.6 per cent. The overall metal sector was under pressure as there were fears of volatility in global commodity prices following US President Donald Trump's announcement of aggressive tariffs, which created fears of a trade war.
Tata Technologies, a product engineering and digital solutions provider, declined nearly 6 per cent to an all-time low of Rs 597 per share. Tata Motors also plummeted sharply by nearly 13 per cent after its luxury car division, Jaguar Land Rover, said it was suspending exports to the US. This was done following the imposition of new auto tariffs by the US government. While Indian carmakers' exposure to the American market is minimal, the impact may still be felt by Tata Motors through JLR. Other Tata firms like Tata Consultancy Services (TCS), Tata Chemicals, and Titan Company were comparatively stable and dropped less than 2 per cent in the intra-day session.
