July 5, 2018 / 4:45 AM / 10 months ago

BUZZ-India's Tata Motors hits lowest in over 5 yrs on JLR's Brexit woes

** Tata Motors’ shares plunge as much as 5.4 pct to 252.55 rupees, lowest since April 2013

** Stock is top pct loser on NSE index and Nifty Auto index

** Co’s unit Jaguar Land Rover said on Wednesday a so-called “hard Brexit” would cost it 1.2 bln pounds ($1.59 bln) a year, curtailing its future operations in the UK

** “Prima facie, 1.2 bln pounds looks on the higher side and hence the reaction to the stock today,” said Basudeb Banerjee, analysts with Ambit Capital

** Management must have factored in bulk of this adversity in their 4-7 pct FY EBIT margin guidance - analyst

** Nearly 7.4 mln shares traded as of 0440 GMT, compared with 30-day avg volume of 14.9 mln shares

** Stock has lost 38 pct this year as of last close ($1 = 0.7564 pounds)

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