Shares of Tata Motors today plunged nearly six per cent on the Bombay Stock

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Exchange amid reports that German carmaker Daimler will sell its 5 per cent stake in India's top vehicle maker for over Rs 1,800 crore.

Shares of Tata Motors opened weak and fell by 5.87 per cent to Rs 750 on BSE during the first hour trade. Meanwhile, the market index Sensex was quoted lower by 0.14 per cent.

On the National Stock Exchange the scrip fell 4.34 per cent to a low of Rs 763.

Nearly four crore shares changed hands on the two bourses in the first hour of trade.

The stock came under pressure after reports that the world's largest truck maker Daimler would sell its residual 5 per cent stake in Tata Motors for over USD 400 million.

The promoters of Tata Motors hold 38.08 per cent stake, of which Tata Sons holds 27.13 per cent while the rest is held by other group companies.