Shares of Tata Motors fell by nearly 4%, wiping out Rs 4,835 crore from its market valuation today, after Jaguar Land Rover (JLR) retail sales went down in April.
On NSE, it slipped 3.87% 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.
The Jaguar brand posted record retail sales of 12,310 units in April, up 54%, 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% as compared to April 2016.