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Monday, 8 January 2018

Tata Motors stock gains after rise in JLR Dec retail sales

Shares of Tata Motors rose over 1% after retail sales of subsidiary Jaguar Land Rover in December rose 0.6% on year to 55,697 units.
Land Rover sales were up 4.1% on year at 40,618 units in December, led by introduction of the Range Rover Velar and the ramp up of Discovery.
Jaguar sales fell 7.8% on year to 15,079 vehicles in December, as strong sales of the long-wheel base Jaguar XFL in China and the introduction of the E-PACE were more than offset by softer sales of XE and XJ.
The stock is currently trading at Rs438.6, up by Rs 4.9 or 1.13% from its previous closing of Rs 433.7 on the BSE. The scrip opened at Rs434.75 and has touched a high and low of Rs443.55 and Rs433.35, respectively.
TML, on the consolidated level, derives ~80% of its revenue from wholly owned subsidiary, JLR, which had witnessed EBITDA margin decline in FY16 and FY17 on account of weakness in volumes growth, model mix and forex losses. Standalone business (~80% CV and PV) has experienced market share losses and is expected to turnaround the trend on account of better acceptance of SCR technology (CV) and series of new launches in PV segment (Tigor/Hexa/Tiago).

 
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