Share price of Tata Motors slipped 3 percent on Friday after foreign broking house UBS has maintained neutral call on the stock and cut target to Rs 200 from Rs 280 per share
According to UBS, the China has added to the uncertainty, while India trucks segment is peaking up.
The sharp deterioration in China volumes has clouded JLR outlook and estimates still have downside if situation in China does not improve, it added.
UBS turning cautious on India’s truck market outlook and cut JLR global volume growth estimates from -2%/-1% in FY19/20 to -5%/-1%.
Tata Motors ended at Rs 171.95, down Rs 5.35, or 3.02 percent on the BSE.
For more market news, click here