Tata Motors hits 52-week low after scrips fall over 10%

Mumbai, August 21 (IANS): Amid weakness in the auto sector, a sharp fall was seen in the Tata Motors stocks on Wednesday which slipped over 10 per cent, touching its 52-week low.

At 2.51 p.m., Tata Motors was trading 9.25 per cent lower at Rs 112 a share on the NSE before hitting its 52-week low of Rs 109.50 apiece.

The Nifty Auto index was down 0.75 per cent. Other constituent stocks like Ashok Leyland, Apollo Tyres, Mahindra and Mahindra and TVS Motors were also trading in the red.

Earlier in a regulatory filing, the company had said that "the external environment remains challenging, leading to demand contraction. We have aligned our production to actual demand and adjusted the number of shifts and contractual manpower".