Lowest since February 11, 2019, Tata Motors’ shares fell as much as 3.3 per cent to Rs 146.3. Tata Motors, which is said to be India’s biggest automaker by revenue is set to report its quarterly results later today.
A heavy loss is expected to come in at Rs 1,938 crore ($280.99 million) for the three months to June 30, vs a loss of Rs 1,902 crore last year, says the Refinitiv data.
Amid a slump in demand at home, revenue is also expected to fall around 14 per cent. The stock is set for its third straight session of losses; down 12.4 per cent this year as of the last close.
16 of the 37 analysts covering the stock have a ‘buy’ or ‘strong buy’ rating, 18 have ‘hold’, while 3 rate it a ‘sell’ or ‘strong sell’; the median PT is Rs 192, according to Refinitiv data.
Rival Maruti Suzuki India, down 22.7 per cent this year, is due to report its results on Friday.