Tata Motors stock slips 3% as JLR chief issues 'no-deal' Brexit warning
Following the development, shares of Tata Motors opened on a weak note at Rs 269.80, then slipped to a low of Rs 259, down by 3.06 per cent over its previous closing price.
On NSE, the Tata Motors stocks opened at Rs 142.95, then lost ground and fell to a low of Rs 139.40, down 2.34 per cent over its last close.
"Just one part missing could mean stopping production at a cost of 60 million pounds a day. That is a huge risk. We depend on free, frictionless, seamless logistics," he said.
Back in July, the JLR CEO had issued a similar statement warning the UK government against a "bad Brexit deal".
The UK's largest carmaker has witnessed a complete turnaround in its fortunes since, Tata Motors acquired the traditional British brands from Ford 10 years ago.