Tata Motors shares rebound on JLR sales hopes
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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India's biggest carmaker reported a 35.5 percent fall in fourth-quarter profit, missing estimates, as potential car buyers postponed their purchases and waited for a slowing economy to pick up. Full Article