BSE Code: | NSE Code: | ISIN: | Sector:

NSE
426.95
Change Change %
-6.25 -1.44%

Updated:19 Oct, 2017, 19:44 PM IST

BSE
427.25
Change Change %
-6.30 -1.45%

Updated:19 Oct, 2017, 19:44 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
HDFC Securities
N/A
11-08-2017 Buy 372.20 516.00
N/A
Open Long (1Y)
11-08-2018

HDFC Securities maintains buy on Tata Motors

Tata Motors' (TTMT) 1QFY18 performance was a miss on account of lower JLR margins (7.9%), led by lower volumes, higher costs associated with launches and rise in staff costs. Standalone margins also were below estimates, owing to an inferior product mix and GST transition-related costs. Management guided that hedging losses could reduce in subsequent quarters. Also, the model mix is likely to turn favourable with the ramp-up of sales for Discovery and Velar, thereby improving margins. Post commissioning of the Slovakia plant, capex intensity for JLR is likely to reduce from FY19.

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