Tata Motors falls on fears Q3 results may miss estimates
Reuters Market Eye - Shares in Tata Motors (TAMO.NS) shares fell more than 2 percent on worries that October-December earnings will miss market expectations on the back of a disappointing report card at the key Jaguar Land Rover (JLR)subsidiary.
Increasing reliance on lower-margin models such as the Land Rover Evoque and Freelander and adverse currency movements are seen denting Tata Motors' quarterly results due later on Thursday, as JLR's free cash flow (FCF) turns negative.
British luxury car maker JLR issued a warning last month that it is likely to report lower EBITDA margin in the October-December quarter compared with the previous two quarters.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- India moves toward ban on loose cigarettes to deter smoking
- Cold hard facts: Underwater robot measures Antarctic sea ice |
- 'Wizard of Oz' Cowardly Lion suit, Casablanca piano go for millions
- Jewish-nation bill frays Israel's delicate social fabric
- Missouri governor orders more troops to Ferguson after riots |
India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article