Shares of Tata Motors fell nearly 4 per cent, eroding Rs 3,722 crore from its market valuation today, as the strike by a section of workers at the company's plant in Ahmedabad entered the second day.
The stock went down by 3.63 per cent to settle at Rs 306.90 on BSE. During the day, it lost 4 per cent to Rs 305.50.
At NSE, shares of the company slipped 3.84 per cent to close at Rs 306.30.
Led by decline in the stock, the company's market valuation fell by Rs 3,722.27 crore to Rs 88,219.73 crore.
Strike by a section of workers at Tata Motors plant in Ahmedabad entered the second day as the company's management and protesting employees remained adamant on their stand, a Labour Department official said.
"Both the management and the workers, who are on strike, are adamant on their stand. The workers are demanding that suspension of all the 28 colleagues be immediately revoked while the company management is saying that they will take a decision on it only after an inquiry," Assistant Labour Commissioner M S Patel told PTI today.
Striking workers are protesting at the plant site in Sanand.
When contacted, a company spokesperson said there has been no significant impact on production due to the strike.
