Tata Motors' Fiscal 3Q Results Disappoint; Fair Value Raised to INR 570
Narrow moat-rated Tata Motors reported fiscal 2017 second-quarter EPS of INR 0.26, a dramatic decline from the year-ago EPS of INR 8.62. Even so, the stock closed 7% lower as the market was expecting INR 0.77. Tata’s EPS result represented an eye-popping 65% miss. Significantly higher launch costs for the new Land Rover Discovery and lower volume across all regions except North America and China, made for disappointing margin performance from Jaguar Land Rover, or JLR, while Tata medium and heav...Tata Motors is an automobile company, engaged in the manufacture and sale of commercial and passenger vehicles primarily in India. Co. provides cars, utility vehicles, trucks, buses, and defense vehicles, as well as develops electric and hybrid vehicles for personal and public transportation. In addition, Co. is engaged in the provision of engineering and automotive applications, as well as machine tools and factory automation applications; construction equipment manufacturing; automotive vehicle components manufacturing, among others. Co. markets its vehicles in Europe, Africa, the Middle East, South East Asia, South Asia, and South America.
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