Shares in Tata Motors fell 2.3 per cent on worries that earnings of the quarter ended December will miss market expectations on the back of its key subsidiary Jaguar Land Rover's (JLR) disappointing numbers.
Increasing reliance on lower-margin models such as the Land Rover Evoque and the Freelander is seen denting Tata Motors' quarterly results due later on Thursday.
Also, adverse currency movements continue to offset the results as JLR's free cash flow (FCF) turns negative.
British luxury car maker JLR issued a warning last month that it is likely to report lower EBITDA margin in the December quarter compared with the previous two quarters.
Copyright @ Thomson Reuters 2013
Increasing reliance on lower-margin models such as the Land Rover Evoque and the Freelander is seen denting Tata Motors' quarterly results due later on Thursday.
Also, adverse currency movements continue to offset the results as JLR's free cash flow (FCF) turns negative.
British luxury car maker JLR issued a warning last month that it is likely to report lower EBITDA margin in the December quarter compared with the previous two quarters.
Copyright @ Thomson Reuters 2013
