UBS cuts Tata Motors FY 2013, 2014 forecasts

MUMBAI Thu Jan 24, 2013 8:40am IST

Men walk inside a Tata Motors showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012. REUTERS/Jayanta Dey/Files

Men walk inside a Tata Motors showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - UBS cut Tata Motors Ltd's (TAMO.NS) fiscal 2013 and 2014 earnings-per-share estimates by 6 percent after the automaker warned its luxury unit Jaguar Land Rover is likely to report a lower EBITDA margin in the October-December quarter.

UBS maintained its "sell" rating after the Tata announcement on Wednesday, citing "expensive" valuations, although the investment bank raised its price target to 255 rupees from 250 rupees as it rolls forward the target by six months.

(Reporting by Abhishek Vishnoi; Editing by G.Ram Mohan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

Mircosoft Results

Microsoft Results

Microsoft revenue rises, profit falls as Nokia absorbed  Full Article 

Relief For Sahara

Relief For Sahara

Supreme Court could allow Sahara boss to conduct asset sale talks, company says.  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage