(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.

Tata Motors stock closed 7.37% lower at Rs 697 on Thursday after the company's earnings came below estimates on weak JLR performance.

Tata Motors' shares traded 6.8% lower at Rs 701.40 on the BSE at 1:30 PM Thursday, recovering slightly from the day’s low of Rs 684.25. The company’s profit fell 22% YoY to Rs 5,451 crore, missing estimates of Rs 6,

Indian carmaker Tata Motors reported third-quarter profit below market expectations on Wednesday, weighed down by weakness in its luxury Jaguar Land Rover (JLR) business and as car sales slowed down at home.

Tata Motors shares rise 2% as Q3 earnings approach. Discover 4 key factors affecting its growth. Tune in to the results today!

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.