March 8, 2019 / 4:56 AM / 4 months ago

BUZZ-India's Tata Motors fall on weak JLR sales

** Automaker Tata Motors Ltd shares down as much as 3.7 pct to 182.50 rupees, their biggest intraday pct loss since Feb. 15

** Co’s British luxury car unit Jaguar Land Rover (JLR) on Thursday posted a 4.1 pct fall in retail sales in Feb, saying weaker market conditions continued to weigh on sales in China for JLR

** Morgan Stanley said for the stock to re-rate, JLR needs to exhibit stable and positive free cash flows; maintains “equal-weight” with a PT of 184 rupees

** Positive free cash flows can be achieved either by strong internal cost cutting and a China rebound, or the co could tie up with another player to share capex spending - MS

** More than 8.8 mln shares change hands in less than an hour of trade, compared with 30-day average volume of around 20.4 mln shares

** Stock among top pct loser on NSE index

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