gr ie: Shares in Tata plunged by as much as 30 per cent the biggest drop in 26 years after the company revealed the figures, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial The problems largely stem from the Jaguar unit, which makes up the bulk of Tata's revenue. The group reported a loss of 270bn rupees 2.9bn for the third quarter of this financial year, the biggest loss recorded in Indian corporate history. The group said the automotive industry is facing significant market, technological, and regulatory headwinds and added that investment in new models and technology remains high. Jaguar Land Rover announced 4,500 job cuts earlier this year, the majority of which will affect UK workers. Given the muted-demand scenario the company warned that JLR is set to swing to a loss this year due to weak sales, contrasting sharply with expectations that the British carmaker would break even.
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