Tata Motors shares drop below ₹1,000 as UBS says they may fall 20%

Shares of Tata Motors fell over 5% on Wednesday to drop below the ₹1,000-mark after brokerage UBS maintained its 'Sell' rating on the stock. UBS kept its target price for the stock at ₹825, implying a downside potential of over 20% from its previous close. Tata Motors shares have hit an intraday low of ₹975.05 on Wednesday.