Tata Motors shares experienced a significant downturn, plunging around 9% after the release of disappointing March quarter earnings. This decline was reflected in a drop of 8.27% to ₹960 per share on the BSE and an 8.23% decrease to ₹960.5 per share on the NSE. The company’s market capitalization suffered a substantial blow, falling by ₹29,950 crore to ₹3,17,998 crore.
The quarterly results showed a surge in consolidated net profit to ₹17,528.59 crore, driven by improved performance in its auto businesses, including Jaguar Land Rover. However, the company expressed concerns regarding stagnant or marginally declining sales volumes for its commercial vehicles in the financial year ending March 2025. Additionally, Jaguar’s order book saw a contraction to 133,000 units as of March 31, down from 148,000 units in December.
The overall market sentiment was bearish, with the 30-share BSE Sensex declining by 161 points to 72,504 and the NSE Nifty dropping by 35 points to 22,022. Other notable decliners included JSW Steel, Tata Steel, NTPC, State Bank of India, Power Grid, and Mahindra & Mahindra. Sun Pharma was the only gainer among the pack.
The weak performance of Tata Motors shares highlights concerns over the company’s growth prospects and the impact of economic headwinds on the automotive industry.
