Stock Market Today: Tata Motors share price declined more than 3% in the morning trades post Q3 volume numbers reported by Jaguar Land Rover that remained a mixed bag. As wholes sales rose 3%, retails sales on the other hand declined 3%.
Tata Motors share price opened at ₹798.95 on the BSE on Thursday, slightly higher than the previous close of ₹794.85. The Tata Motors share price thereafter declined to lows of ₹769.66 marking declien of more than 3%
Jaguar Land Rover (UK), a wholly owned subsidiary of Tata Motors reported its volume numbers on the exchanges on Wednesday post market hours
Jaguar Land Rover or JLR wholesales in Q3 FY25 at 104,427 units (excluding the Chery Jaguar Land Rover China JV), were up 3% year on year over Q3FY24. The wholesale volumes for the third quarter of FY25 (three-month period to 31 December 2024), reflected a good improvement following supply disruptions in the second quarter of FY25. On sequential basis JLR wholesales rose 20%
As per company release compared to the prior year, wholesale volumes were higher in North America (up 44%) and Europe (up 6%), and lower in China (38% lower), the UK (17% lower) and Overseas ( 1% lower).
Wholesale volumes for the financial year to date were 289,485, down 1% compared to the prior year.
As per Tata Motors release Jaguar LandRover Retail sales of 106,334 units in the third quarter (including the Chery Jaguar Land Rover China JV) were down 3% compared to Q3 FY24 and up 3% compared to Q2 FY25. Retail sales for the financial year to date were 320,622, up 1% compared to the prior year
The overall mix of the most profitable Range Rover, Range Rover Sport and Defender models increased to 70% of total wholesale volumes, as per the company release. In the quarter, demand for Range Rover was particularly strong with wholesale volumes up 48% compared to Q2 FY25, partly due to the resolution of temporary supply chain disruptions, but also up 22% compared to the same quarter a year ago, representing continued strong demand
Analysts at Motilal Oswal Financial Services said that the JLP whole sale numbers were in line with their expectations>
As per MOFSL Tata Motors stock has corrected ~32% from its peak, largely driven by muted growth estimates across underlying industries and cost-related pressure, particularly in JLR. While management has maintained its guidance for JLR during 2QFY25 results, MOFSLanalysts think it is likely to see persistent margin pressure over FY24-27, given: 1) weak demand in key regions; 2) rising cost pressure as it invests in demand generation; 3) normalizing mix; and 4) EV ramp-up, which is likely to be margin-dilutive. Even in India, both CV and PV businesses are seeing moderation in demand as per analysts
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