Why Tata Motors' Stock Is Down Today
Shares of Indian automaker Tata Motors (NYSE: TTM) were trading sharply lower in the U.S. on Monday morning. Tata, which is also traded on India's National Stock Exchange (NSE) in Mumbai, was caught in a broad NSE sell-off on Monday on concerns about a new wave of COVID-19 infections in India.
As of 11:15 a.m. EDT, Tata's U.S.-traded shares were down about 11.8% from Friday's closing price.
Tata and other Indian auto companies including Mahindra & Mahindra and Ashok Leyland closed sharply lower in trading in Mumbai on Monday, after India's second-most populous state, Maharashtra, reported its biggest one-day spike in coronavirus cases since the beginning of the pandemic.
Source Fool.com
