Sensex Sinks With Tata Motors as Profit Outlook Caps 2017 Rally
- Jaguar owner’s shares plunge after luxury unit misses estimate
- Disappointing commentary may cloud Indian stock market’s rally
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India’s stocks benchmark dropped, producing the biggest four-day decline since November, after the country’s largest automaker’s outlook disappointed investors.
The S&P BSE Sensex dropped 0.8 percent to close at a one-month low of 31,531.33 in Mumbai. Tata Motors Ltd. led decliners, falling 8.6 percent. The company said Wednesday after markets closed that margins at its Jaguar Land Rover missed analysts’ estimates.