Thu Sep 12 10:49:38 UTC 2024: ## Tata Motors Shares Plunge 5.5% After UBS Downgrade

**Mumbai, India, September 11, 2024** – Tata Motors shares took a significant hit on Tuesday, dropping over 5.5% after global brokerage UBS maintained its “Sell” recommendation on the stock. The shares closed at Rs 1035.9 on September 10th, reaching an intra-day low of Rs 976 on the NSE. UBS set a price target of Rs 825 per share, indicating a potential 20% downside from Tuesday’s closing price.

This decline follows a strong performance for Tata Motors in recent months, with the stock hitting a 52-week high of Rs 1179.05 in the past year. However, concerns over slowing global economic growth and potential market volatility seem to have influenced UBS’s decision.

Meanwhile, India and China continue to engage in talks to strengthen cooperation in the civil aviation sector. Officials from both countries met at the Asia Pacific Ministerial Conference on Civil Aviation, discussing the possibility of resuming direct flights between the two nations. The decision to resume direct flights will be made after consultations with India’s Ministry of External Affairs and relevant stakeholders.

Read More