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Tata Motors shares tank over 13%, m-cap drops by Rs 8,229 cr

Press Trust of India  |  New Delhi 

Shares of fell sharply by over 13 per cent Tuesday after the company-owned (JLR) reported 12.3 per cent decline in global sales in September.

The stock cracked 13.40 per cent to end at Rs 184.25 on the During the day, it slumped 19.78 per cent to Rs 170.65, its multi-year low level.

On NSE, the scrip dropped 13 per cent to close at Rs 184.55.

The stock was the worst hit among the on both the key indices during the day.

Led by the sharp fall in the stock, the company's market valuation tumbled Rs 8,228.6 crore to Rs 53,199.40 crore on the

In terms of the equity volume, 132.54 lakh shares of the company were traded on the and over 14 crore shares changed hands on NSE during the day.

Steep drop in the scrip was also instrumental in dragging the BSE benchmark index lower by 174.91 points to end at 34,299.47.

Monday reported 12.3 per cent decline in global sales at 57,114 units in September, hit by lower demand in China, the auto major said.

The company's sales in declined by 46.2 per cent during September as compared to the same month last year as ongoing market uncertainty resulting from import duty changes and continued trade tensions held back consumer demand.

Meanwhile, on Monday revealed plans for a two-week shutdown of its at the end of October to cope with weakening global demand for its luxury vehicles.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 16:40 IST