Tata Motors shares traded flat ahead of its June quarter results due
later in the day. Analysts will be closely tracking how the Jaguar Land
Rover-maker has performed in the key market of China.
Tata Motors shares are down 25 per cent over the last three months amid rising concerns about the slowdown in sales in China - the world's fastest-growing market. China caters to around one third of JLR's demand. On a consolidated level, JLR caters to around 80 per cent of Tata Motors annual sales.
Tata Motors is expected to post a 42 per cent year-on-year decline in its consolidated net profit at Rs 3,136 crore, according to consensus Street estimates. Its revenue is likely to remain flat year-on-year at Rs 64,070 crore.
Analysts like Ambareesh Baliga are bullish on Tata Motors after the recent correction. Tata Motors is looking attractive at current levels one should look at buying this stock, Mr Baliga said.
However, Nischal Maheshwari of Edelweiss Capital asked investors to avoid the stock. "There is value in Tata Motors but why would you want to own a stock which gets majority of its earnings from abroad and specially from China where there are lot of problems," he said.
As of 9.41 a.m. Tata motors shares traded 0.26 per cent higher at Rs 383.90 apiece, compared to 0.1 per cent decline in the broader Nifty.
Tata Motors shares are down 25 per cent over the last three months amid rising concerns about the slowdown in sales in China - the world's fastest-growing market. China caters to around one third of JLR's demand. On a consolidated level, JLR caters to around 80 per cent of Tata Motors annual sales.
Tata Motors is expected to post a 42 per cent year-on-year decline in its consolidated net profit at Rs 3,136 crore, according to consensus Street estimates. Its revenue is likely to remain flat year-on-year at Rs 64,070 crore.
Analysts like Ambareesh Baliga are bullish on Tata Motors after the recent correction. Tata Motors is looking attractive at current levels one should look at buying this stock, Mr Baliga said.
However, Nischal Maheshwari of Edelweiss Capital asked investors to avoid the stock. "There is value in Tata Motors but why would you want to own a stock which gets majority of its earnings from abroad and specially from China where there are lot of problems," he said.
As of 9.41 a.m. Tata motors shares traded 0.26 per cent higher at Rs 383.90 apiece, compared to 0.1 per cent decline in the broader Nifty.
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