Tata Motors slips ahead of Q2 earnings
On Wednesday, the stock suffered first loss in its last four consecutive sessions.
By ETMarkets.com |
BCCL
NEW DELHI: Shares of Tata Motors slipped 1 per cent in morning trade on Wednesday ahead of its September quarters earnings.
The impact of forex hedge losses, demand outlook for UK subsidiary JLR and updates on its China joint venture with Cherry will be watched keenly when the auto major announces second-quarter earnings later in the day. HDFC Securities expects the company to report consolidated revenue growth of 3 per cent hurt by a 12 per cent fall in JLR revenues. The domestic business is expected to report 35 per cent YoY jump in revenues.
On Wednesday, the stock suffered first loss in its last four consecutive sessions. Around 9:55 am, it traded 1.58 per cent down at Rs 174.50 apiece on BSE. The benchmark Sensex was 0.66 per cent down at 33,668 around that time.
The impact of forex hedge losses, demand outlook for UK subsidiary JLR and updates on its China joint venture with Cherry will be watched keenly when the auto major announces second-quarter earnings later in the day. HDFC Securities expects the company to report consolidated revenue growth of 3 per cent hurt by a 12 per cent fall in JLR revenues. The domestic business is expected to report 35 per cent YoY jump in revenues.
On Wednesday, the stock suffered first loss in its last four consecutive sessions. Around 9:55 am, it traded 1.58 per cent down at Rs 174.50 apiece on BSE. The benchmark Sensex was 0.66 per cent down at 33,668 around that time.
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