Tata Motors loses ₹42,461 crore market valuation in two days
- Tata Motors' stock emerged as the biggest laggard on Monday among the Sensex and Nifty firms.
Tata Motors' stock plunged over 7 per cent on Monday, extending its previous day's slump, in line with a sharp decline in the equity market.
Shares of the firm tanked 7.32 per cent to settle at ₹1,016.65 on the BSE. During the day, it dived 7.54 per cent to ₹1,014.15.
At the NSE, the stock tumbled 7.31 per cent to ₹1,016.45.
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The stock emerged as the biggest laggard among the Sensex and Nifty firms.
In two days, the firm's market valuation was eroded by ₹42,461.21 crore to ₹3,38,001.41 crore.
The 30-share BSE benchmark plummeted 2,222.55 points or 2.74 per cent to settle at over a month's low of 78,759.40, marking its worst single-day retreat since June 4, 2024. During the day, it tanked 2,686.09 points or 3.31 per cent to 78,295.86.
The NSE Nifty slumped 662.10 points or 2.68 per cent to settle at more than a month's low of 24,055.60. During the day, it tumbled 824 points or 3.33 per cent to 23,893.70.
Shares of Tata Motors had declined more than 4 per cent on Friday after the auto major reported a fall in total sales in July.
On Thursday, Tata Motors reported an 11 per cent year-on-year dip in total sales at 71,996 units in July.
The company had sold 80,633 units in July 2023. Its total domestic sales dipped 11 per cent and stood at 70,161 units last month as against 78,844 units in the year-ago period.
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