Tata Motors shares fell by more than 8% on Monday after the company's March quarter reports disappointed investors. The stock fell 8.32 percent to close at Rs 959.80 a share on the BSE. During the day, it dropped 9.44% to Rs 948.
On the NSE, it dropped 8.33% to Rs 959.40 per piece. The company's market capitalization (mcap) dropped by Rs 29,016.23 crore to Rs 3,19,012.47 crore.
It emerged as the largest laggard among BSE Sensex and NSE Nifty enterprises. The 30-share BSE Sensex ended 111.66 points higher at 72,776.13. The NSE Nifty gained 48.85 points, reaching 22,104.05.
Tata Motors recorded a more than threefold increase in total net profit to Rs 17,528.59 crore in the fourth quarter ended March 2024, with all three car divisions performing well, particularly the British unit Jaguar Land Rover.
Tata Motors reported a consolidated net profit of Rs 5,496.04 crore in the same quarter last fiscal year, according to a regulatory filing.
Total consolidated operating revenue was Rs 1,19,986.31 crore, up from Rs 1,05,932.35 crore the previous year. Tata Motors reported outstanding success in all three vehicle divisions during the fourth quarter of fiscal year 24.
