Friday, February 21, 2025
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Tata Motors shares tank over 9%

Market cap declines by Rs29,946.88cr

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New DelhI: Shares of Tata Motors on Monday tanked more than 9 per cent after the companyโ€™s March quarter earnings failed to cheer investors.

The stock plunged 9.44 per cent to Rs948 a share on the BSE.

On the NSE, it tanked 9.50 per cent to Rs947.20 apiece.

The companyโ€™s market capitalisation (mcap) was wiped out by Rs29,946.88 crore to Rs3,17,998.73 crore.

It emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.

The 30-share BSE Sensex traded 624.43 points lower at 72,040.04. The NSE Nifty quoted 113.65 points down at 21,941.55.

Tata Motors on Friday reported an over three-fold jump in consolidated net profit at Rs 17,528.59 crore in the fourth quarter ended March 2024, riding with all its three auto businesses delivering a strong performance, especially the British arm Jaguar Land Rover.

The company had posted a consolidated net profit of Rs 5,496.04 crore in the same quarter of the previous fiscal, Tata Motors said in a regulatory filing.

Total consolidated revenue from operations stood at Rs1,19,986.31 crore compared to Rs 1,05,932.35 crore in the year-ago period.

In Q4 FY24, Tata Motors said all three auto businesses delivered strong performance.

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