Tata Motors shares rebound on JLR sales hopes

MUMBAI Fri Feb 15, 2013 3:08pm IST

1 of 3. Tata Motors logos are seen at their flagship showroom before the announcement of their Q3 results in Mumbai February 14, 2013.

Credit: Reuters/Vivek Prakash

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MUMBAI (Reuters) - Shares in Tata Motors (TAMO.NS) recovered from early losses and were up 2.3 percent on expectations of better sales and margin at subsidiary Jaguar Land Rover, traders said.

Tata Motors earlier fell as much as 3.1 percent, after posting its first drop in profit in five quarters on Thursday, as its Jaguar Land Rover (JLR) business faced higher spending and a drop in operating margin after 18 months of soaring profit.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)

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