Tata Motors' shares dropped more than 2.5% on September 25, reportedly due to a cyber-attack that hit its British car-making subsidiary, Jaguar Land Rover (JLR). The attack has led to a production halt extended until October 1, with reports suggesting a potential financial loss that could run into the billions.

The decline in share value was confirmed in Thursday's trading, marking a significant dip for the commercial heavyweight. The cyber breach at JLR, a key unit of Tata Motors based in the UK, is cited as the primary cause for the loss, leading to a sharp decrease in the company's stock price.

According to reports, the cyber-attack has severely impacted JLR, with staff reportedly instructed to stay home. This disruption is what is believed to have driven the over 2.5% slump in the stock market. Furthermore, information indicates that the IT and auto major, JLR, had previously failed to secure a cyber insurance deal with broker Lockton, compounding the potential financial exposure. Oxford Student Atlas for India | 6th Edition | For UPSC and Competitive Exams | Latest Edition Paperback –January 2025 Paperback – 1 January 2025

JLR has suspended production, with the extension now set until October 1. Initial estimates of the resulting financial damage are reported to be over ₹6,000 crore (approximately over $720 million USD, though the original text mentions a potential loss of $2 billion, suggesting a larger possible impact). This has led to speculation that the car manufacturer could face losses close to $2 billion from the incident. Also Read: Karnataka High Court Greenlights Caste Survey with Strict Data Privacy Conditions