Tata Motors is trading lower by 1.3% at Rs 236, extending its yesterday’s 3% fall, on reports that India's largest commercial vehicle manufacturer will close its Jamshedpur plant for three days, starting today, in order to stop further piling up of inventory at the dealers end. The company has already closed its Pune plant for three days this month.
“Tata Motors will suspend production at its Jamshedpur factory, where it makes trucks and truck parts, from June 28 to June 30 in order “to align production with demand”, reports suggest.
The stock opened at Rs 239, is currently trading at day’s low level on the National Stock Exchange. A combined 3.08 million shares have changed hands on the counter so far.
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