Tata Motors
| Tata Motors |
| Last week's close (Rs) |
340.27 |
| Prev. week's close (Rs) |
345.00 |
| Week's high (Rs) |
364.90 |
| Week's low (Rs) |
319.30 |
| Last week's ave. daily turnover (Rs cr) |
187.31 |
| Prev. week's ave. daily turnover (Rs cr) |
135.09 |
| Number of up/down move |
3/2 |
Shares of Tata Motors could be in action after the company posted losses for the first time in eight years. While consolidated sales stood at Rs 71,000 crore, net loss mounted to Rs 2,505 crore for 2008- 09.
The 2009 numbers are not comparable as the previous year’s profit numbers (Rs 2,167 crore) are for the standalone entity. The company purchased the two marquee entities—Jaguar and Land Rover in June 2008.
The poor consolidated performance is being attributed to the performance of Jaguar Land Rover (JLR) which is battling the economic downturn in key markets. Drop in sales in the US and European markets dragged JLR to record losses of around Rs 1,800 crore.
However, Tata Motors on a standalone basis turned in a profit of Rs 1,000 crore, a drop of 51 per cent over last year. The company laid off 2,000 people at JLR, and chances of further cuts in the work force, to rein in costs to manage profitability, are on the cards.
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