Tata Motors skids 6 pc on JLR worries, m-cap down Rs 5K-cr
PTI: Mumbai, Jan 25 2013, 02:19 IST
Shares of Tata Motors today slumped over 6 per cent on heavy selling amid reports the company issued a profit warning at its Jaguar Land Rover unit.
After falling over 9 per cent during the day, shares of the company finally ended at Rs 293.55, down 5.91 per cent on the BSE.
At NSE, the scrip tumbled 6.12 per cent to Rs 293.90.
Following the dip in its share price, the market cap of Tata Motors slipped Rs 4,999 crore to Rs 79,485 crore.
In terms of volume, 32.62 lakh shares of the company changed hands on the BSE, while over 3 crore shares were traded on NSE.
"Tata Motors dropped 6 per cent as JLR on margins front may face a fall due to exchange rate fluctuations," said Milan Bavishi, Head Research, Inventure Growth & Securities.
Fall in Tata Motors scrip was significant in pulling the BSE benchmark Sensex down by 102.83 points at 19,923.78.
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