Tata Motors witnessed a sharp fall in share price on Wednesday after the company announced a substantial drop in consolidated net profit for the quarter ended December 2016. During the quarter, the profit of the company declined 96.22% to Rs 1,115.70 million from Rs 29,526.70 million in the same quarter last year.
Revenues for the quarter declined marginally 4.29% to Rs 685,410.70 million, compared with Rs 716,165.80 million for the prior year period.
Shares of Tata Motors (Q,N,C,F)* are trading at Rs 450, down Rs 36.8, or 7.56% at the Bombay Stock Exchange (BSE) on Wednesday at 10:24 a.m.
The scrip has touched an intra-day high of Rs 453.25 and low of Rs 441.25. The total volume of shares traded at the BSE is 1,252,369.
Total volume of shares traded on the bourses today was higher by 253.15% to 19,964,525 compared with 22-day average volume of 5,653,233.