Tata Motors Shares Plunge 6%, Market Value Drops Rs 21,881 Cr

New Delhi, Sep 11 (PTI) Shares of Tata Motors tumbled nearly 6 per cent on Wednesday to wipe out Rs 21,881 crore from its market valuation and dragged the benchmark indices lower.

The stock declined 5.74 per cent to settle at Rs 976 on the BSE. During the day, it tanked 6.12 per cent to Rs 972.

At the NSE, shares of the firm slumped 5.73 per cent to Rs 976.40.

The company's market valuation also eroded by Rs 21,881.23 crore to Rs 3,59,227.59 crore.

The stock was the biggest laggard on the Sensex and Nifty.

Tata Motors shares have been falling for the past nine days, tumbling 12.82 per cent.

In a volatile trade, the 30-share BSE Sensex dropped 398.13 points or 0.49 per cent to settle at 81,523.16. The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.

On the traded volume front, 17.56 lakh of the firm were traded at the BSE and 361.40 lakh at the NSE during the day.