Tata Motors back on roads

Tata Motors, for Q2FY21 posted a consolidated loss of Rs.307 crore v/s loss of Rs.188 crore (YoY) v/s loss of Rs.8444 crore (QoQ).

Its total revenue from operations rose 18% (YoY) and 67% (QoQ) to Rs.53,530 crore. But these numbers were much better than what the Street had expected and that’s why we see the stock price in the green.

The market was enthused with the optimistic outlook ahead spelt out by PB Balaji, Group CFO, Tata Motors. He said, “We are cautiously optimistic that the worst is probably over as far as commercial vehicles are concerned. The CV business, compared to what it was a month and a half back, has definitely improved. Even more reassuringly, financial concerns are now starting to abate.”

JLR’s retail sales during the quarter rose 53% (QoQ) to 113,569 units, but sales in most markets continued to be impacted by Covid-19. They were down 12 % (YoY). China market was good – sales rose 15% (QoQ) and up 4% (YoY).

The company, during Navratri, recorded a massive 103% jump in bookings and 90% rise in passenger vehicles' (YoY).

The stock is doing well. From its close of yesterday at Rs.135.70, it opened today at Rs.138.20 and rose to an iintraday high at Rs.143.15, not too far from its 10% UC of the day at Rs.149.25