Shares of Tata Motors Ltd. rose 5% to Rs 510 apiece after the company reported its September quarter earnings post market hours Monday.
Analysts tracking the company expect the Indian business to rebound aided by demand uptick in PV and CV segments besides new launches.
Tata Motors Q2FY22 (Consolidated, QoQ)
- Revenue down 8% at Rs 61,379 crore Vs Rs 66,406 crore (BBG estimate: Rs 59,088 crore)
- Net loss at Rs 4,442 crore Vs Rs 3,509.91 crore (BBG estimate: Rs 3,681 crore loss)
- Ebitda at Rs 4,117 crore Vs Rs 5,242 crore (BBG estimate: Rs 5,334 crore)
- Margins at 7% Vs 8% (BBG estimate: 9%)
Of the 32 analysts tracking the company, 24 maintained ‘buy’, five maintained ‘hold’ and three maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied a downside of 0.1%
