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Tata Motors share price falls after Crisil lowers rating on weakening risk profile of JLR

Tata Motors share price fell up to 2.85% to Rs 117 compared to the previous close of Rs 120.85 on BSE.

twitter-logo BusinessToday.In        Last Updated: August 16, 2019  | 13:39 IST
Tata Motors share price falls after Crisil lowers rating on weakening risk profile of JLR
Tata Motors share price has been losing for the last four days and has fallen 2.99% in the period.

Tata Motors share price fell in trade today after Crisil lowered its long-term rating amid weakening risk profile of its UK arm Jaguar land Rover.  Tata Motors share price fell up to 2.85% to Rs 117 compared to the previous close of Rs 120.85 on BSE.

 Tata Motors share price has been losing for the last four days and has fallen 2.99% in the period.

Tata Motors share price has lost 51.96% during the last one year and fallen 30% since the beginning of this year.

CRISIL in its release said it has downgraded rating on the long-term bank facilities of Tata Motors (TML) to 'AA-/Negative' from 'AA/Negative', but reaffirmed rating on short term bank facility, commercial paper and short-term debt at 'A1+'.

"Continued weak sales volumes and profitability, coupled with sizeable necessary capex continues to constrain the outlook for free cash flows. Moreover, continued uncertainty around the terms on which Brexit is concluded continues to pose risks to JLR's business profile. An adverse outcome on Brexit for JLR may result in significant disruptions to its supply chain, and elongate its working capital cycle," it said.

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