Tata Motors shares tank over 6%; m-cap dips by Rs 8,206 cr

Shares of Tata Motors tumbled over 6 per cent today, wiping out Rs 8,206.88 crore from its market valuation, on concerns over a slowdown in the Chinese market.
China is the largest market of Tata Motors' Jaguar Land Rover.
The stock plunged 6.17 per cent to settle at Rs 405.15 on the BSE. In intra-day, the scrip lost 7.36 per cent to Rs 400 -- its 52-week low.
At the NSE, shares of Tata Motors dipped 6.16 per cent to Rs 404.95.
Led by the decline in the stock price, the company's market value plunged by Rs 8,206.88 crore to Rs 1,16,462.12 crore.

On the volume front, 15.75 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.

Sentiments in the stock market took a big blow after China mainland index Shanghai Composite saw a sharp correction despite additional measures taken by the government to shore up the tumbling market.
"Markets worldwide corrected on the back of concerns about a probable Greece exit and new renewed fears over Chinese markets," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio.
In the broader market, the BSE Sensex ended with a loss of 483.97 points at 27,687.72.