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
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- India Inc happy with Modi, but holding back on investment: poll
- Modi to launch plan for every Indian household to have bank account
- U.S. seeks coalition against Islamic State, but military partners no sure bet
- Modi eyes breakthrough nuclear pact on Japan trip
CEOs in India are optimistic that Prime Minister Narendra Modi will spur the economy, an opinion poll showed on Thursday, but most are not ready to make new investments and say there are no signs yet of improvement on the ground. Full Article
Adani buys Australia coal mine royalty rights from Linc for $145 million Full Article