Shares in Tata Motors slumped nearly 10 percent in opening trade on Thursday after the Indian automaker said its unit Jaguar Land Rover (JLR) was likely to report lower EBTIDA margin in the October-December quarter.

Tata Motors said the lower margins would come due to foreign exchange fluctuations and a higher mix of Evoque sales, according to a statement late on Wednesday.

At 10:10 a.m., Tata Motors was trading at 290.25 rupees, down 7.3 percent.