Tata Motors-owned Jaguar Land Rover (JLR) on Monday released its 2020 sales figures
The stock has rallied 47 per cent in the past three months and 89 per cent in the last six months
The European Union so far has been a 'single market,' for the Tata Motors-owned Jaguar Land Rover (JLR) but this is set to change after the UK's exit from the European Union
Reassurance comforted investors; Stock surged by 3.96 per cent
JLR, acquired by the Tatas in 2008, is the UK's largest automotive manufacturer, accounting for an estimated 30 per cent of all domestic car production in this country
Analysts believe the company will benefit from an improving demand outlook, cost-cutting initiatives, and better FCF generation.
global brokerage CLSA expects Tata Motors to generate strong free cash flow on the back of sequential recovery in sales volume. The brokerage has 'Buy' call on the stock with a target price of Rs 220
Tata Motors reported a consolidated net loss of Rs 8,438 crore against Rs 3,698 crore in the corresponding quarter of last year.
Analysts expect the company to turn profitable only in Q4FY21
He takes over from Ralf Speth at a time when auto demand remains under pressure and JLR continues to battle multiple headwinds
The UK's Treasury department plans to set up a bad bank or asset resolution fund to hold stakes in companies that it may end up part-owning
The ratings agency further said it views positively the management's focus on conserving cash amid the changes in operating conditions
The company launched the much-anticpated Harrier 2020 at an introductory price of Rs 13.69 lakh for Manual and Rs 16.25 lakh for Automatic.
There are currently just under 4,000 employees at Halewood, excluding agency staff, and the latest announcement is likely to affect around 500 jobs at the site, the company said
In the past one month, Tata Motors' stock hsa outperformed the market by surging 18 per cent, as compared to 2 per cent rise in the S&P BSE Sensex
The stock hit a 52-week low of Rs 106 on September 4, 2019.
The stock has now surged 73 per cent from its 52-week low of Rs 106, touched on September 4, 2019 on the BSE
The stock was trading at its highest level since May 28, 2019
Global wholesales of JLR stood at 47,278 units. Jaguar wholesale units for the month were 12,367 vehicles, while Land Rover wholesales stood at 34,911 units.
Analysts at Antique Stock Broking believe margin/volume/revenue/cash flow will further get amplified in coming quarters with the start of Defender delivery and ramp-up of new Evoque across markets.