Tata Motors weakened over 3 per cent early Thursday after the CEO of its subsidiary Jaguar Land Rover (JLR) reportedly warned that a hard Brexit would cost 1.2 billion a year.The scrip was down 3.30 per cent at Rs 258.20 at around 9.30 am.
The BSE Sensex dropped 25 points, or 0.07 per cent, to 35,619 at around the same time.Tata Motors' small car Nano is staring at the end of its journey with just one unit produced in June.
But the company maintained that no decision has been taken yet on stopping its production.The entry-level car and brainchild of Ratan Tata, who envisaged giving a safer and affordable alternative to families riding on two-wheelers, sold just three units last month in the domestic market.In a regulatory filing, Tata Motors said there was no export of Nano in June this year.
It had shipped 25 units in the same month last year.In terms of production, only one unit was produced last month as against 275 in June 2017.Domestic sales were at three units in June as against 167 in the year-ago month.