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Tata Motors Stock Recovers 4% After Hitting 5-year Low Yesterday
The stock of Tata Motors which reacted to the hard Brexit stance in intra-day trade yesterday hitting a 5-year low has recovered a huge 4% in Friday's session.
On Thursday, the concerns of a bad deal by the CEO of JLR hinting at a possible scenario of not clocking a favourable deal as it exits the EU single market by March next year, send the shares of the parent company Tata Motors to 5-year low.
But as per a leading business channel's report, the stock of one of India's leading auto-maker has gained b by as much as 4% as some of the global auto stocks including BMW, GM and Daimler had rallied overnight as the US ambassador to Germany, Richard Grenel said that president Donald Trump could keep the tariff rates on hold on European cars.
Also, in line, Angela Merkel she would also support lowering down EU tariff rates on US car imports.
At 1:43 pm, the stock of Tata Motors was quoting higher by 3.75% at Rs. 271.30 on the BSE.
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