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Tata Motors shares plunge over 5%, market capitalisation drops by Rs 6,236 cr

New Delhi: Shares of Tata Motors plunged over 5 percent on Tuesday, wiping out Rs 6,236.24 crore from its market valuation, after the company's December quarter earnings failed to enthuse investors.

The stock tanked 5.45 percent to settle at Rs 374.45 on BSE. During the day, it dropped 9.85 percent to Rs 357 -- its 52-week low.

Tata Motors logo. Reuters.

Tata Motors logo. Reuters.

On NSE, shares of the company tumbled 5.14 percent to end at Rs 375.45.

The stock was the worst hit among the blue-chips on both Sensex and Nifty.

The company's market valuation fell by Rs 6,236.24 crore to Rs 1,08,116.76 crore.

Tata Motors yesterday reported a net profit of Rs 1,215 crore for the December quarter, up over 11-fold from Rs 111.6 crore a year ago.

Its cash-cow, the British marquee JLR, numbers printed lower with a pretax profit of 192 million pounds, down from 255 million pounds a year ago, which had included an $85 million insurance recovery.

Published Date: Feb 06, 2018 19:02 PM | Updated Date: Feb 06, 2018 19:02 PM

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