Tata Motors faces wrath of fund managers in September

Fund managers sold 20 mn shares of the automaker, worth Rs 802 cr

This September, when India's leading commercial vehicles manufacturer Tata Motors was all set to launch the Nexon, its much-awaited mini special utility vehicle, domestic fund managers were busy liquidating the company's stocks from their portfolios.

The fund managers sold 20 million shares of Tata Motors worth Rs 802 crore during the month — making it one of the most-sold stocks in September. This is the first time the stock has figured in the most-sold list in several months. 

Despite the heaving selling by MFs last month, the Tata Motors stock has managed to do well in October. The scrip is