- Tata Motors shares tanked over 8% and its market capital declined by ₹29,016 crore on Monday.
Shares of Tata Motors on Monday tanked more than 8 per cent after the company’s March quarter earnings failed to cheer investors.
The stock plummeted 8.32 per cent to settle at ₹959.80 apiece on the BSE. During the day, it plunged 9.44 per cent to ₹948.
On the NSE, it tanked 8.33 per cent to ₹959.40 per piece.
The company’s market capitalisation (mcap) was wiped out by ₹29,016.23 crore to ₹3,19,012.47 crore.
It emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.
The 30-share BSE Sensex settled 111.66 points up at 72,776.13. The NSE Nifty climbed 48.85 points to 22,104.05.
Tata Motors on Friday reported an over three-fold jump in consolidated net profit at ₹17,528.59 crore in the fourth quarter ended March 2024, riding with all its three auto businesses delivering a strong performance, especially the British arm Jaguar Land Rover.
The company had posted a consolidated net profit of ₹5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing.
Total consolidated revenue from operations stood at ₹1,19,986.31 crore compared to ₹1,05,932.35 crore in the year-ago period.
In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance.
First Published Date: 14 May 2024, 07:36 AM IST