TATAMOTORS

s shares nosedive 4%, hit 52-week low amid market selloff

plunged as much as 4 percent to Rs 623 on Friday, hitting a 52-week low and extending their losing streak for the fifth straight session. The stock has now fallen in seven of the last eight trading days. The sharp fall in Tata Motors’ stock follows a lacklustre third-quarter performance, cautious guidance, and pressure from a broader market ***** this decline, Tata Motors has tumbled 46 percent from its July 30 peak of Rs 1,179, erasing nearly Rs 2 lakh crore in market capitalisation since then. February has been particularly rough, with the stock slipping close to 12 percent—its worst month since October, when it had dropped 14 ***** also marks its seventh consecutive month in the red, the longest losing streak since 2015, when the stock slumped for seven straight months before staging a recovery. Despite the ongoing concerns, international brokerage CLSA last week upgraded the stock to a high-conviction 'outperform' rating from 'outperform' suggesting positive levers for growth.