Tata Motors ends 6% down on sudden demise of MD Karl Slym

NEW DELHI: Tata Motors closed the day 6% down at Rs 347.80 on the Bombay Stock Exchange.

The fall in the stock comes after a day its MD Karl Slym, who was handpicked by Ratan Tata to revive the fortunes of the company in India, died in Bangkok on Sunday in a freak accident at the hotel where he was staying. He was 51.

The stock hit a low of Rs 345.45 and a high of Rs 365.80 in today's trade.

Slym, who was in Bangkok to attend a board meeting of Tata Motors Thailand, reportedly fell from the 22nd floor of the Shangri-La Hotel to the fourth floor. Hotel executives declined comment. Police authorities are probing the death, ET reported.

Tributes poured in from colleagues and his peers at other companies, as Slym had become a familiar figure in the Indian automobile industry, having spent almost six years in India, after beginning his career in the UK.