Shares of Tata Motors fell 2.6 % intraday on August 16 after CRISIL downgraded its long term rating amid weakening risk profile of Jaguar Land Rover. The stock lost more than half of its value in the last year. It was quoting Rs 119.20, down Rs 1.65, or 1.37 % on the BSE. The rating downgrade factors in a further weakening of outlook on the business risk profile of Jaguar Land Rover Automotive PLC (JLR). The rating agency expects JLR's global volumes to increase marginally by 1-2 % in FY20 versus an expectation of about 5 % earlier, mainly due to continued weakness in the China market.
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