Tata Motors' shares dive nearly 18%

New Delhi, February 8

Shares of Tata Motors today plummeted nearly 18%, wiping out Rs 9,123.41 crore from its market valuation, after the company reported its biggest ever quarterly loss of Rs 26,960.8 crore for the third quarter ended December 31.

The auto major's stock plunged 17.28% to settle at Rs 151.30 on the BSE. During the day, it slumped 22.41% to Rs 141.90 — its multi-year low.

At the NSE, shares nose-dived 17.88% to close at Rs 150.15. Intra-day, it cracked 29.45% to Rs 129.

Following the sharp fall in shares, the company's market valuation fell sharply by Rs 9,123.41 crore to Rs 43,685.59 crore on the BSE.

The auto major yesterday reported its biggest ever quarterly net loss of Rs 26,960.8 crore for the third quarter ended December 31. — PTI