Tata Motors share price slumps 4% amid reports flag potential £2 billion cyberattack hit for JLR
Tata Motors share price dropped by 4% following reports in the Financial Times suggesting that its subsidiary Jaguar Land Rover is facing significant challenges due to an ongoing cyberattack, which could result in losses exceeding its total profit from the last financial year.
According to reports, the Financial Times suggests that JLR, a subsidiary of Tata Motors, may endure a financial impact of £2 billion, as it lacks insurance coverage against the cyberattack that has interrupted its operations and already caused monetary losses.
According to reports from CNBC TV18, JLR initially prolonged its production halt until September 24 due to a cyberattack, and this halt was further extended to October 1. Although the company has not…
