Tata Motors shares plunge over 5 pc, mcap drops by Rs 6,236 cr

Shares of Tata Motors plunged over 5 per cent 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 per cent to settle at Rs 374.45 on BSE. During the day, it dropped 9.85 per cent to Rs 357 -- its 52-week low.
On NSE, shares of the company tumbled 5.14 per cent 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 USD 85 million insurance recovery.