Shares of Tata Motors Ltd declined 4 per cent in Thursday’s trade after reports highlighted potential financial fallout for its subsidiary, Jaguar Land Rover (JLR), from a recent cyberattack.

According to a Financial Times report quoted by Moneycontrol, JLR could face a hit of around €2 billion as the automaker was not insured against the cyber incident that disrupted its operations. The possible loss could surpass JLR's total profit for the previous fiscal year, the report also stated. Advertisement

Additionally, Reuters reported that JLR had failed to finalise a cyber insurance policy brokered by Lockton before the attack. Three senior sources from the cyber insurance market told The Insurer that the company appears to have been uninsured directly for the incident. The automaker decli

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