It was reported that the shares of Tata Motors rebounded nearly 3 percent intraday on July 26 after a disappointing show in June quarter (Q1). But that does not negate the falling knife analogy that observers have used to describe the state of the company, and by extension, the Indian automobile industry.

On this edition of Digging Deeper, we will try to understand just what has gone amiss in the big picture and why.