(Reuters) -Indian carmaker Tata Motors' shares plummeted about 9% to a 14-month low on Thursday, after its third-quarter results set off growth and margin concerns for its luxury Jaguar Land Rover (JLR) segment.

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Tata Motors share price declined 8% in the morning trade on Thursday following the automaker’s Q3 results wherein it reported a double-digit fall in profit.

Indian carmaker Tata Motors fell more than 7% in early trade on Thursday after reporting a bigger-than-expected drop in quarterly profit, which pushed a slew of brokerages to slash price targets on the stock.

The homegrown auto player is set to announce its results for the period ended on December 31, 2024 later today.

Tata Motors shares plunged 9 per cent to a 52-week low as Q3 profit fell 22 per cent YoY, missing estimates. JLR performed well, but weak India CV growth dampened sentiment.

Tata Motors reported earnings for the December 2024 quarter, which missed estimates. This prompted global brokerage firm Jefferies to downgraded Tata Motors stock to "underperform" from its earlier rating of "buy".