Tata Motors down 4 per cent; mcap dips Rs 4,835 cr on JLR sales drop

New Delhi: Shares of Tata Motors fell by nearly 4 per cent, wiping out Rs 4,835 crore from its market valuation today, after Jaguar Land Rover (JLR) retail sales went down in April.

The stock declined by 3.84 per cent to close at Rs 419.75 on BSE. Intra-day, it dipped 4.22 per cent to Rs 418.05. The stock was the top loser among the BSE 30-share components.

On NSE, it slipped 3.87 per cent to end at Rs 419.60. The company's market valuation too dropped by Rs 4,835.55 crore to Rs 1,21,196.45 crore. On the volume front, 14.14 lakh shares of the company were traded on BSE and over 94 lakh shares changed hands at NSE during the day.

Tata Motors-owned JLR today reported retail sales of 40,385 units for April, down 2.3 per cent from the same month of last year. The Jaguar brand posted record retail sales of 12,310 units in April, up 54 per cent, driven by the ongoing success of the Jaguar F-PACE as well as strong sales of the XE.

The Land Rover saw sales of 28,075 vehicles in April, down 15.8 per cent as compared to April 2016.