Tata Motors JLR may take a £5 million a day hit due to cyberattack; stock in focus

Shares of Tata Motors are expected to be in focus on Thursday, September 11, following continued fallout from a cybersecurity incident that hit its British luxury subsidiary, Jaguar Land Rover (JLR).

JLR, which contributes nearly 70% of Tata Motors' consolidated revenue, confirmed in a fresh statement on September 10 that the attack had affected "some data" and forced an extension of its system shutdown, a drastic measure first taken on September 2 to contain the breach.

The company has not disclosed what specific data was impacted but assured it is working with cybersecurity experts to restart global applications and continues a forensic investigation.

"We will contact anyone as appropriate if we find that their data has been impacted," the company said, adding that relevant authorities have been informed.

The timing of the attack has raised eyebrows. According to a BBC report, the breach could be costing JLR up to £5 million per day, striking just as the automaker heads into one of its busiest sales periods, the start of September, which coincides with the introduction of new vehicle registration plates in the UK.

Production and sales have reportedly been disrupted, further straining the automaker already grappling with launch delays and slowing global demand.

The incident has drawn political attention as well. Questions were raised in the UK House of Commons, where the Business Minister declined to confirm or deny whether the attack was state-sponsored.

As of now, JLR's operations remain partially suspended, and investors are watching closely for updates.

Shares of Tata Motors ended Wednesday's trading session 0.75% lower at rs 710.20. The stock is down 5% so far this year.