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ADR fall hints at more downside for TaMo

Shares of Tata Motors could face further downside risk on Monday after its American Depositary Receipts (ADR) price fell by almost 8% to $10.5 at close on Nasdaq on Friday. The ADR trades after Indian markets’ closure. The stock on Friday closed down 17.88% at Rs 150.15 on NSE. On Thursday, the ADR ended down 9.5%. The sharp decline in the stock was triggered due to the worst ever quarterly result posted by the auto major led by in December quarter. The loss was led the impairment charge recorded in the books towards its JLR capital investments.

Read More at The Economic Times News date : 11 Feb 2019, Monday

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