Tata Motors scrip slips 3% on JLR chief's 'no-deal' Brexit warning

New Delhi: Shares of Tata Motors Wednesday slipped as much as three per cent in morning trade on bourses after the Jaguar Land Rover (JLR) issued a warning to the UK government of massive losses if Britain was to leave the European Union (EU).

JLR CEO Ralf Speth, who was speaking at the Zero Emission Vehicle Summit in Birmingham, Tuesday said that fears of a so-called "no-deal" Brexit and lack of clarity over Britain's post-Brexit plans threatens the UK-based luxury carmaker's entire operational set up.

Following the development, shares of Tata Motors opened on a weak note at Rs 269.80, then slipped to a low of Rs 259, down by 3.06 per cent over its previous closing price. On NSE, the Tata Motors stocks opened at Rs 142.95, then lost ground and fell to a low of Rs 139.40, down 2.34 per cent over its last close.