<p> With Britain deciding to vote against staying in the EU, Tata Sons, which has big business interests in the UK, has said that it is reviewing its strategy and operations.<br /><br /></p>.<p> “Each company continuously reviews its strategy and operations in the light of developments, and will continue to do so. Access to markets and to a skilled workforce will remain important considerations,” a Tata Sons spokesperson said.<br /><br /> There are currently 19 independent Tata companies in the UK, with diverse businesses. These include Tata Steel, Tata Motors (including Jaguar Land Rover), Tata Chemicals and Tata Global Beverages. <br /><br />According to reports, Europe contributes nearly 50% to Tata Steel’s total revenues. <br />The company had recently announced plans to exit its operations in the UK as part of its strategy to cut losses.<br /><br /> Tata has been operating in the UK since 1907 and remains committed to delivering long-term value for all its stakeholders, the spokesperson said while commenting on the development. According to a Jaguar Land Rover spokesperson, it is business as usual for the company despite Brexit. <br /><br />Remains committed<br /><br />“For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions,” a Jaguar Land Rover spokesperson said.<br /><br /> We respect the views of the British people and in line with all other businesses, Jaguar Land Rover will manage the long-term impact and implications of this decision: nothing will change for us, or the automotive industry, overnight, the spokesperson added.<br /><br />Tata Group stocks hit hard by Brexit<br /><br />Tata Group stocks witnessed massive drubbing on Friday, plummeting up to 8%, as UK’s vote to exit the EU spooked investors given the conglomerate’s huge exposure to the region. Among bluechip Tata Group stocks, Tata Motors slumped 7.99%, Tata Steel plunged 6.37% and TCS slipped 2.78% on BSE.<br /><br />Tata Motors and Tata Steel were the worst performers among the 30-Sensex stocks. Intra-day, they had fallen as much as 13% and 11%, respectively. Among others, shares of Tata Sponge declined by 4.61%, Tata Elxsi dropped 3.62%, Voltas (3.48%), Tata Global Beverages (1.86%), Tata Chemicals (1.67%) and Tata Communications (1.40%). Following the weakness in these stocks, the market valuation of as many as 26-listed Tata Group firms fell by over Rs 28,000 crore.</p>
<p> With Britain deciding to vote against staying in the EU, Tata Sons, which has big business interests in the UK, has said that it is reviewing its strategy and operations.<br /><br /></p>.<p> “Each company continuously reviews its strategy and operations in the light of developments, and will continue to do so. Access to markets and to a skilled workforce will remain important considerations,” a Tata Sons spokesperson said.<br /><br /> There are currently 19 independent Tata companies in the UK, with diverse businesses. These include Tata Steel, Tata Motors (including Jaguar Land Rover), Tata Chemicals and Tata Global Beverages. <br /><br />According to reports, Europe contributes nearly 50% to Tata Steel’s total revenues. <br />The company had recently announced plans to exit its operations in the UK as part of its strategy to cut losses.<br /><br /> Tata has been operating in the UK since 1907 and remains committed to delivering long-term value for all its stakeholders, the spokesperson said while commenting on the development. According to a Jaguar Land Rover spokesperson, it is business as usual for the company despite Brexit. <br /><br />Remains committed<br /><br />“For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions,” a Jaguar Land Rover spokesperson said.<br /><br /> We respect the views of the British people and in line with all other businesses, Jaguar Land Rover will manage the long-term impact and implications of this decision: nothing will change for us, or the automotive industry, overnight, the spokesperson added.<br /><br />Tata Group stocks hit hard by Brexit<br /><br />Tata Group stocks witnessed massive drubbing on Friday, plummeting up to 8%, as UK’s vote to exit the EU spooked investors given the conglomerate’s huge exposure to the region. Among bluechip Tata Group stocks, Tata Motors slumped 7.99%, Tata Steel plunged 6.37% and TCS slipped 2.78% on BSE.<br /><br />Tata Motors and Tata Steel were the worst performers among the 30-Sensex stocks. Intra-day, they had fallen as much as 13% and 11%, respectively. Among others, shares of Tata Sponge declined by 4.61%, Tata Elxsi dropped 3.62%, Voltas (3.48%), Tata Global Beverages (1.86%), Tata Chemicals (1.67%) and Tata Communications (1.40%). Following the weakness in these stocks, the market valuation of as many as 26-listed Tata Group firms fell by over Rs 28,000 crore.</p>
