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Shares of Tata Motors plunged over 5 % today, 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 % to settle at ₹374.45 on BSE. During the day, it dropped 9.85 % to ₹ 357 -- its 52-week low.
On NSE, shares of the company tumbled 5.14 % to end at ₹375.45.
The stock was the worst hit among the blue-chips on both Sensex and Nifty.
The company’s market valuation fell by ₹ 6,236.24 crore to ₹ 1,08,116.76 crore.
Tata Motors on Monday reported a net profit of ₹ 1,215 crore for the December quarter, up over 11-fold from ₹ 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 USD 85 million insurance recovery.
