Tata Motors shares drop 4% on weak growth outlook; UBS downgrades stock to ‘Sell’

September 11, 2024

Tata Motor Share Price: Shares of Tata Motors fell 5.4% to 980.10 on the BSE after announcing price cuts of up to Rs 2.05 lakh on EVs and popular cars, signaling weak growth prospects. UBS responded with a ‘sell’ rating and a target price of Rs 825. The price cuts, part of the ‘Festival of Cars’ promotion, come amid a significant inventory buildup and a 4.5% decline in dealer sales in August, marking the third drop this financial year.

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