Autobayng News Team
In a slight relief, the luxury car maker announced Friday a phased restart of its operations after a cyberattack halted production for almost a month.“>
Shares of Tata Motors jumped 2 per cent to their day’s high of ₹685.95 on the BSE on Monday, September 29, after its UK subsidiary JLR secured a £2 billion loan guarantee following a cyberattack that halted production of the luxury car maker, The Economic Times reported.The 18-month facility with committed backstop arrangements is expected to demonstrate the company’s liquidity to tide over the loss in revenue after it was forced to halt operations and shut down its systems and UK factories on September 1. Since then, production at its factories in the UK, Slovakia, Brazil, and even India has come to a standstill. Its Chinese joint venture, however, is said to be operating.In a slight relief, the luxury car maker announced Friday a phased restart of its operations after a cyberattack halted production for almost a month. “As part of the controlled, phased restart of our operations, today we have informed colleagues, suppliers, and retail partners that sections of our digital estate are now up and running. The foundational work of our recovery programme is firmly underway”, the company’s British subsidiary said.The stock will also be in focus today due to a slew of tweaks in the management. Last week, the country’s leading EV player, announced the appointment of Shailesh Chandra as Additional Director, Managing Director & CEO, effective October 1, 2025, for a three-year term. Chandra will continue to lead Tata Passenger Electric Mobility, the company’s wholly-owned EV subsidiary, following the resignation of P B Balaji as Group CEO. The latter will take charge as the CEO of JLR Automotive in the UK, effective the same day.Investor attention will also be on Tata Motors’ September sales update, due later this week. The company said it recorded more than 10,000 deliveries and over 25,000 enquiries on the first day of Navratri after cutting prices across several models in response to the recent GST reduction on small and mid-sized cars and adjusting prices on larger vehicles.Tata Motors shares ended at ₹674, higher by 1.5 per cent from the last close on the NSE. The stock is down over 30 per cent in the last 1 year.
Join the community of 2M+ industry professionals.
Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETAuto industry right on your smartphone!
- Download the ETAuto App and get the Realtime updates and Save your favourite articles.
