Tata Motors may fall after unit Jaguar Land Rover’s Feb sales disappoint
Tata Motors shares may fall on lower-than-expected sales at key unit Jaguar Land Rover (JLR) in February.
JLR’s Feb 15 wholesales came in at 38,541 units, down 1.2 pct yoy; below estimates of about 42,200 units – Analysts.
This could be due to lower despatches to China for the Evoque to clear inventory to start local production and gradual ramp-up for new models – Nomura.
Underlying demand for the JLR’s products remains strong – Analysts.
Stock trades at discount to Indian rivals on one-year forward P/E basis Tata Motors 8.2 Maruti Suzuki India 21.6 Mahindra and Mahindra 19.7.