Shares of Tata Motors Ltd and Tech Mahindra were hammered by the investors in the morning trade today after the companies came out with disappointing performance in Q4 of 2014-15 FY with both the stocks emerging as the biggest losers in the Nifty in terms of percentage.

There was heavy volume of trading even in the first 40 minutes indicating the possibility of sustained selling pressure in these counters, particularly as the overall market itself was weak.

Tech Mahindra shares were down by Rs 83.75 or 13.08 per cent to Rs 556.50 accompanied by a hectic trading volume of 75.44 lakh shares. It was only recently that the company came out with a 1:1 bonus issue and split the face value of shares from Rs 10 to Rs 5.

The company, while posting a near 21 per cent higher revenue in Q4 of last fiscal, saw its net profit dive by 23 per cent in the same quarter possibly due to employee pay hike, investment in acquisitions and cross currency headwinds etc. Still it is keeping a war chest of Rs 300-Rs 400 crore for new capex this fiscal, including for acquisitions, as it seeks to expand its wings.

Tata Motors stock also was whipped by the investors with the stock losing Rs 24.75 or 4.97 per cent to trade at Rs 472.85 on the NSE.

This counter witnessed a trading volume of about 53 lakh shares in the first 40 minutes. The company, apart from posting a loss of over Rs 4,700 crore in the last fiscal, also had to skip paying dividend during 2014-15. Tata Motors DVR slumped by 3.96 per cent or Rs 12.20 to Rs 296.20 and the trading volume in the stock was over 6 lakh shares.