Tag: tatamotors

Shares of Tata Motors tanked 10 per cent to Rs 311.53 on the BSE in intra-day trade on Tuesday after its UK subsidiary Jaguar Land Rover (JLR) said it expects an operating cash outflow of about £1 billion, with negative earnings before interest tax (EBIT) margin in the second quarter ended September 2021 (Q2FY21), due to the supply constraints. Based on recent input from suppliers, the company now expects chip supply shortages in the Q2FY22 to be greater than in the first quarter, potentially resulting in wholesale volumes to be about 50 percent lower than planned, although it said it is working to mitigate this. We expect the situation will start to improve in the second half of our financial year, the company said.“The present semiconductor supply issues represent a significant near-term challenge for the industry which will take time to work through but we are encouraged by the strong demand we see for when supply recovers,” said Thierry Bollore, chief executive officer, JLR. Read more

Shares of Tata Motors hit an over three-year high of Rs 358.25, up 1.5 percent, on the BSE in intra-day trade on Wednesday on the back of heavy volumes. Tata Motors' share has rallied 13 percent in the past six days. It surpassed its previous high of Rs 357 touched on March 3, 2021, and was trading at its highest level since April 2018. Tata Motors on Tuesday informed stock exchanges that a new wholly-owned subsidiary named ‘TML CV Mobility Solutions Limited’ has been incorporated by the company. TML CV Mobility Solutions was incorporated to provide end to end services of operating, repair, and maintenance including annual maintenance contracts (AMC) and Fleet Management Services (FMS) for the automotive including electric mobility/electric vehicles, electric buses, fuel cell buses, all types of commercial vehicles etc, the company said. Read more

The country's largest commercial vehicle maker Tata Motors on Tuesday reported a consolidated loss of Rs 314.5 crore for the quarter ended September 30. The CNBC-TV18 poll has estimated Rs 1,290 crore loss. The company had reported a loss of Rs 216.56 crore in the September quarter of 2019. The auto major’s total revenue from operations dropped by 18.19 per cent to Rs 53,530 crore, from 65,431.95 crores a year ago. The company’s finance costs increased by Rs 114 crore to Rs 1,950 crore in the quarter due to higher gross borrowings. The company said its revenue in the last six months had been impacted as the group’s manufacturing plants and offices had to be closed down for a considerable period of time due to the Covid-19 pandemic. The company is monitoring the situation closely taking into account directives from the governments. Read more