Shares of Tata Motors today
plunged nearly 9 per cent, knocking off Rs 10,351 crore off
its market valuation, after the company's June quarter
earnings failed to meet market expectations.
The stock tumbled 8.60 per cent to settle at Rs 380.90 on
the BSE. During the day, it ran down 9.77 per cent to Rs 376
-- its 52-week low.
On the NSE, it slipped 8.61 per cent to end at Rs 380.20.
The company's market valuation declined by Rs 10,350.9
crore to Rs 1,09,979.10 crore.
The stock was the worst performer on both the key
In terms of equity volume, 24.02 lakh shares of the
company were traded on the BSE and over 2 crore on the NSE
during the day.
Home-grown auto major Tata Motors yesterday reported a
41.54 per cent jump in net profit at Rs 3,199.93 crore for the
June quarter of the current fiscal, benefiting from one-time
gain relating to changes made to JLR pension plans.
It had posted consolidated net profit of Rs 2,260.4 crore
in April-June of last fiscal, Tata Motors said in a BSE
Income from operations during the period under review
stood at Rs 59,818.22 crore as against Rs 66,165.89 crore in
the year-ago period, down 9.59 per cent.