Tata Motors JLR

Stock Market LIVE updates today, August 13, 2024: In the broader markets, the BSE MidCap index slipped 0.31 per cent, and the BSE SmallCap index fell 0.34 per cent

Tata Motors on Friday reported an 8 per cent year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR), at 3,61,361 units in the fourth quarter of FY23. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in the January-March period this year stood at 1,18,321 units, up 3 per cent over the same period of FY22, Tata Motors said in a statement. Dispatches of all passenger vehicles in the fourth quarter increased 10 per cent to 1,35,654 units over the corresponding quarter of the previous fiscal, it said. Global sales of JLR stood at 1,07,386 vehicles in the March quarter, which comprised 15,499 units of Jaguar and 91,887 units of Land Rover, it said.

This possible IPO along with the receipt of consideration of EV deal with TPG will support FCF generation from the India business to attain near debt zero in the India business, MOFSL said.

The initial sale in the engineering unit of luxury carmaker Jaguar Land Rover's owner will comprise a 23.6% stake, according to a filing

Appointment comes at a time when JLR is facing supply chain issues hampering its production

Tata Motors will benefit from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in both JLR and India ops, Motilal Oswal said in a note.

Earlier this month, JLR said it might miss a target of becoming net-debt free by next year as the supply-chain crisis crimped output

Tata Motors and its wholly-owned subsidiary JLR to report December quarter results on Wednesday, January 25, 2023.

Shares of Tata Motors surged 7 per cent in Tuesday's intra-day trade to hit a high of Rs 417.7 apiece

The company has appointed Adrian Mardell (acting CFO), who has been witn the company for the past 32 years, as the interim CEO

Following the development, global brokerage JP Morgan downgraded the stock from 'overweight' to 'neutral' with a September 2023 price target of Rs 455.

Tata Motors on Monday reported 33 per cent increase in global sales, including that of Jaguar Land Rover to 3,35,976 units in September quarter 2022. It had sold 2,51,689 units in the same period last year. Global wholesale units of all Tata Motors' commercial vehicles and Tata Daewoo range in the quarter stood at 1,03,226 units, up 16 per cent from 89,055 units a year ago, the company said in a statement. Global sales of all passenger vehicles were at 2,32,750 units in the quarter as against 1,62,634 units in the year-ago period. Global sales of JLR stood at 89,899 units in the period under review. While Jaguar wholesale stood at 16,631 vehicles, Land Rover wholesales were 73,268 units. JLR had sold 78,251 units in July-September last fiscal year.

Analysts at Nomura expect the Tiago EV to sell 3,000 - 5,000 units per month, and its overall EV sales to touch 60,000/ 96,000 in FY23/24

The Tata Motors-owned luxury automaker noted that the retail sales for the three-month period continued to be constrained by the global semiconductor shortage

Equity value of India business comprised of commercial and passenger vehicles now accounts for over half the value in SOTP calculations as compared to 0-30% two years ago

Total domestic sales grew 26% at 72,485 units in Jan 2022 as against 57,649 vehicles sold in the same month last year

The broader indices also surged over a per cent each, and gainers outnumbered losers in 2.5:1 ratio

JLR expects the EBIT margin and free cash flow (before restructuring costs) to turn positive in the second half of Fiscal 2022

Despite the impact of the semiconductor shortage on production and sales, JLR continues to see strong demand for its products with global retail orders at record levels in excess of 125,000 vehicles

Tata Motors has said its electric vehicles (EV) have achieved a cumulative sales milestone of 10,000 units