Tata Motors' scrip falls 5%; mcap dips Rs 7,944 cr on Q4 Nos

Shares of Tata Motors slumped over 5 per cent today, eroding Rs 7,944.16 crore from its market valuation, a day after the company reported 56.2 per cent decline in net profit in the January-March quarter.
The stock ended the day 5.12 per cent lower at Rs 471.65 on the BSE. During the day, it fell by 6.67 per cent to Rs 463.90.
The stock was the top loser among the 30-Sensex scrips.
On the NSE, it dipped 5.19 per cent to close at Rs 471.75.
The company's market capitalisation plunged Rs 7,944.16 crore to Rs 1,35,577.84 crore.
In terms of volume, 13.66 lakh shares of the company changed hands at the BSE and over one crore shares were traded at the NSE during the day.

"Tata Motors' fourth quarter of 2014-15 results were below estimates on account of lower than expected operating performance at JLR," said Bharat Gianani, Sr Research Analyst - Automobile, Angel Broking.

Tata Motors' March quarter net profit declined by 56.2 per cent to Rs 1,716 crore due to massive asset write-downs, 220-million pound forex loss and poor show by its cash-cow British arm Jaguar Land Rover.
The company had reported a consolidated net profit of Rs 3,918.29 crore in the same quarter previous fiscal.
The Tata Group company, which is the country's largest automaker by revenue, had to incur Rs 3,857 crore in amortisation and depreciation expenses during the quarter under review against Rs 3,125 crore a year ago.

The same rose to Rs 13,387 crore from Rs 11,078 crore for the full financial year.
"Auto major Tata Motors disappointed D-street and failed to meet expectations with fourth quarter profit plunging 56.2 per cent year on year," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.
In the broader market, the BSE 30-share Sensex ended at 27,564.66, up 33.25 points.