Tata Motors shares jump over 8% as JLR expects improved Q4 earnings

Brokerages slashed price targets on Tata Motors after the company reported biggest loss in India’s corporate history. The consensus 12-month price target for the stock is down to Rs 215 from Rs 252 earlier this month. Some brokerages have cut the tar

Shares of Tata Motors continued their upward journey Tuesday, zooming over 8 per cent after its British unit Jaguar Land Rover (JLR) Friday said it expects improved financial results in the quarter to March 31.

The stock rose 8.36 per cent to close at Rs 202.80 on the BSE. During the day, it jumped 9 per cent to Rs 204.

At the NSE, shares rose sharply by 8.32 per cent to close at Rs 202.95.

In terms of volume, 67.93 lakh shares were traded on the BSE, while over 10 crore shares changed hands on the NSE during the day.

Shares of Tata Motors had zoomed 7.5 per cent Monday.

The stock was the biggest gainer on both the indices on Tuesday.

Tata Motors-owned JLR Friday said it expects better cash flow in the fourth quarter.

In a regulatory filing, JLR said it expects improved financial results in the fourth quarter period to March 31 compared to the first nine months of the financial year, with significant positive cash flow in the fourth quarter.


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel