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ET Intelligence Group: Stats are often known to conceal more than they reveal. Otherwise, when a company posts a net loss in the vicinity of $2 billion for the year, only the eternal optimist would search for positives in the red ink.
But that’s where headline numbers might be downright misleading.
Tata Motors, India’s biggest automotive group, may have logged losses but they fail to reflect the robust operating performance at the maker of JLR, which took one-off write-downs as part of the strategy to take the big cat Jaguar all electric.
Restructuring costs at JLR were cumulatively around ₹15,000 crore, contributing to the ₹13,395 crore net loss for FY21. In February, JLR has already indicated it would incur £1.5 billion of exceptional charges due to the Reimagine strategy. JLR, the maker of Range Rover and Discovery, has witnessed improvement on cost metrics, cash generation and demand enhancement. Operating profit (EBIT) margin of JLR rose to 7.5% in Marc
Why Tata Motors share fell over 4% in trade today
Tata Motors share touched an intraday low of Rs 322.15, falling 4.08% against previous close of Rs 335.85 on BSE
BusinessToday.In | February 9, 2021 | Updated 16:31 IST
Tata Motors share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages
Tata Motors share fell over 4% today after the auto giant s subsidiary Jaguar Land Rover s (JLR) sales for January in the UK fell 42.8% . The large cap stock touched an intraday low of Rs 322.15, falling 4.08% against previous close of Rs 335.85 on BSE. Tata Motors share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has risen 87.44% in one year and gained 77.14% since the beginning of this year. Market cap of Tata Motors stood at Rs 1 lakh crore on BSE. Share of Tata Motors closed 3.20% or Rs 10.75 lower at Rs 325.10. In UK, JLR sales fell to 4,542 units from 7,938 units (YoY).