Shares in Tata Motors will rise in Monday’s (November 11) trade as the company comes out with weak Q2 results, however management’s outlook on the JLR segment remains strong.
In the reporting quarter, consolidated PAT at the company declined by 11 percent to Rs 3,343 crore as against Rs 3,764 crore in the same quarter last year. The revenue in the company also fell sharply during the review period and infact came in below estimates of Rs 1,06,039 crore from Rs 1,01,450 crore. During the same period last year, revenue was at 1,05,129 crore, a decline of 3.5 percent year-on-year (YoY).
Are global brokerages rating Tata Motors for posting its Q2 show?
Hong Kong-based global consumer company Tata Motors has upgraded the stock to surpass its previous ‘hold’ rating, lowering its price target to Rs 968 from the previous Rs 975, suggesting a 21 percent upside. The company has given a strong outlook for JLR in relation to its EBIT margin for FY25 and FY26. In addition, management remains cautious on CVs, however, new launches in PV will boost growth.
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