Metal Stocks, Tata Motors Crash On China Fears

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Shares in metal companies and Tata Motors, which are directly impacted by problems in China fell sharply after Chinese stocks crashed, raising worries over demand.

The largest market for Jaguar Land Rover owned by Tata Motors is China and the sudden collapse in markets there raised worries over demand in China.

Metal Stocks, Tata Motors Crash On China Fears
Tata Motors: Quotes, News
BSE 521.85BSE Quote7.65 (1.47%)
NSE 522.00NSE Quote8.05 (1.54%)
Vedanta: Quotes, News
BSE 199.35BSE Quote1.9 (0.95%)
NSE 199.65NSE Quote1.75 (0.88%)

Tata Motors was down a huge 6 per cent in trade. Metal stocks also melted as investors fretted over demand from China.

Vedanta was down 9 per cent, Hindalco was down 6 per cent and Tata Steel slumped 4 per cent. Both the stocks touched a new 52-week low on the National Stock Exchange.

Dealers say this maybe more of a sentimental impact more than anything else. They expect some short covering to happen that could lead to a bounce bank in these shares.

Read more on the Asian markets collapse here

Read more about: tata motors, nse, metal, china
Story first published: Wednesday, July 8, 2015, 12:11 [IST]
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