With Wednesday's correction, the stock of the automobile company has plunged 17 per cent from its record high level of Rs 1,179.05 on July 30, 2024
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The board of the company approved the demerger of the Tata Motors into two separate listed companies. The company revealed that the demerger will conclude in the next 12 to 15 months.
The fall in the share price came on the back of weak sales in July 2024.
In the past week alone, Tata Motors' stock has climbed 18 per cent following an upgrade from brokerage firm Nomura, which set a 'Buy' rating and a target price of Rs 1,294 per share.
On the bourses, Tata Motors stocks were buzzing in trade after several brokerages raised the target prices. The stock rallied as much as 3.82 per cent to hit a fresh record high of Rs 1,067 per share.
Tata Motors-owned Jaguar Land Rover on Wednesday said it has signed a letter of intent with its Chinese joint venture partner Chery to license the Freelander brand to their JV for development of electric vehicles in China. Under the proposed new licensing agreement, CJLR -- a 50/50 joint venture of Jaguar Land Rover Ltd and Chery Automobile Company Ltd - - will pivot to produce an advanced portfolio of electric vehicles based on Chery's EV architecture, exclusively under the Freelander name, the company said in a statement. JLR's Freelander brand was a Land Rover vehicle which was produced between 1997-2015. It was succeeded by the Discovery Sport in 2016. "In reborn CJLR form, Freelander will offer a range of mainstream electric vehicles, initially sold in China through a distinct network but over time destined for global export," the statement said. The vehicles will be designed in collaboration with both Chery and JLR's creative teams to create a new positioning in the rapidly .
The presentation also highlighted that Jaguar Land Rover (JLR) is on course to achieve net debt-free status in the financial year 2025 (FY25)
Tata Motors' May JLR UK sales zoomed 29 per cent on a year-on-year (Y-o-Y) basis to 6,093 units, as opposed to 4,732 units in May last year
The proposed demerger of existing automotive business into two listed entities will help the commercial vehicle vertical become more agile and capitalise on the opportunities available globally, according to Tata Motors Executive Director Girish Wagh. In march this year, Tata Motors announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities. As part of the initiative, the commercial vehicle (CV) business and its related investments would be housed in one entity, while the passenger vehicle (PV) business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity. "The proposed demerger will help us improve focus and make us more agile to capitalise on opportunities in the CV market globally," Wagh, who heads the company's commercial vehicle business, said in a message to shareholders in the auto major's Annual Report for ..
Prices of 'flagship car' and its sport variant will reduce by 18-22%, say senior executives of Tata Motors-owned company
The stock is the top loser on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)
Analysts anticipate robust results for Tata Motors, propelled by the advantages of operating leverage, favourable commodity trends and strong volume growth across its various segments
In the past one year, shares of Tata Motors have been in top gear and have outperformed all stocks that comprise the Nifty Auto index with a rise of nearly 131 per cent during this period, shows data
'The demerger is a logical progression of the subsidiarisation of PV and EV businesses done earlier in 2022 and shall further empower the respective businesses,' Tata Motors said in a statement
The company said work would start this year on the automaker's first three UK solar projects in Gaydon, Halewood and Wolverhampton, which should be completed by the end of 2026
The auto major's Q3 net profit beat analyst estimates, growing by 137 per cent YoY to Rs 7,025 crore on favourable volumes, reduced costs on component sourcing with easing semiconductor chip supplies.
Tata Motors-owned Jaguar Land Rover on Monday reported a 27 per cent rise in total wholesales at 1,01,043 units in the third quarter ended December 31, 2023, as compared to the year-ago period. Jaguar Land Rover (JLR) delivered the highest wholesales in 11 quarters during the period, a statement by JLR shared on BSE by Tata Motors said. Year-to-date wholesales for FY24 were 2,91,113 units, up 28 per cent year-on-year, it added. The order book continues to reflect strong demand for JLR products with 1.48 lakh client orders at the end of the third quarter. This has reduced from 1.68 lakh at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for the vehicles, JLR said. Demand for Range Rover, Range Rover Sport and Defender remains particularly strong, representing 76 per cent of the order book, it added.
Tata Motors said it remains optimistic about its performance due to a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth
Electric passenger vehicle sales went up by 28 per cent YoY. This includes both domestic and international business figures