Tata Motors Stocks Plummet Amid Broad Market Decline

Tata Motors' stock experienced a significant drop of over 7% on Monday amid a broader market downturn. The company's market valuation decreased by Rs 42,461.21 crore over two days. This decline follows a reported 11% year-on-year dip in total sales for July.

Tata Motors' stock plunged over 7 percent 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 percent to settle at Rs 1,016.65 on the BSE. During the day, it dived 7.54 percent to Rs 1,014.15. At the NSE, the stock tumbled 7.31 percent to Rs 1,016.45.

The stock emerged as the biggest laggard among the Sensex and Nifty firms. In two days, the firm's market valuation got eroded by Rs 42,461.21 crore to Rs 3,38,001.41 crore.

The 30-share BSE benchmark plummeted 2,222.55 points or 2.74 percent 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 percent to 78,295.86.

The NSE Nifty slumped 662.10 points or 2.68 percent to settle at more than a month's low of 24,055.60. During the day, it tumbled 824 points or 3.33 percent to 23,893.70.

Shares of Tata Motors had declined more than 4 percent on Friday after the auto major reported a fall in total sales in July.

On Thursday, Tata Motors reported an 11 percent 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 percent and stood at 70,161 units last month as against 78,844 units in the year-ago period.