Jaguar parent Tata Motors' bond sinks as weak rupee blights India credit

The debt of Jaguar-owner Tata Motors and mining giant Vedanta Resources Ltd. suffered their biggest drop on record last week, among a handful of Indian companies whose bonds plummeted as the rupee sank to a record low. 
 

In addition to those two dollar notes maturing in 2024, Adani Green Energy’s foreign currency bond tumbled the most since March while GMR Hyderabad 2026 debt also slid, Bloomberg-compiled data show. 

Those drops coincide with the rupee touching its lowest against the dollar, making it more expensive for the Indian companies already facing the challenge of higher interest rates to service existing foreign