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
- Bangalore-bound Malaysian plane lands safely after landing gear scare
- UPDATE 2-Malaysia Airlines plane returns safely after landing gear scare
- Bangalore-bound Malaysia Airlines plane to make emergency landing
- Calls to U.S. poison centers involving e-cigarettes jump - CDC
- Bangalore-bound Malaysia Airlines plane returns safely after landing gear scare
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article