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Tata Motors falls on fears Q3 results may miss estimates
Showroom attendants polish a Jaguar vehicle at a Jaguar Land Rover showroom in Mumbai February 13, 2013.
Credit: Reuters/Vivek Prakash
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)
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