Shares of Tata Motors slumped nearly 7 per cent today amid reports that sales of automaker's luxury unit Jaguar Land Rover fell in the US last month.
The stock plunged 6.76 per cent to settle at Rs 381.80 on BSE. Intra-day, it slipped 7 per cent to Rs 380.50.
At NSE, shares of the company tanked 6.79 per cent to close at Rs 381.80.
Led by sharp decline in the stock, the company's market valuation fell by Rs 8,479.94 crore to Rs 1,09,750 crore.
On the volume front, 11.49 lakh shares of the company changed hands at BSE and over one crore shares were traded on NSE during the day.
Tata Motors saw sales growth of 8.9 per cent for total commercial and passenger vehicles sales (including exports) in April at 39,418 vehicles, over 36,190 units sold in April 2015, according to a company filing on the BSE.
Meanwhile, the broader market also witnessed selling pressure with Sensex falling by 127.97 points to 25,101.73.
