 "JLR, Jaguar Land Rover")
A decline in profitability at Jaguar Land Rover (JLR) and its domestic automotive business has started to weigh on Tata Motors consolidated balance sheet.
This has prompted the company to look at the option of raising fresh equity either from its parent or seek a potential joint venture partner.
On Tuesday, Bloomberg reported that the Tata Group flagship has approached carmakers, including China’s Zhejiang Geely Holding Group and BMW AG, as it seeks partnerships for the beleaguered British automotive business.
A Tata Motors spokesperson said the company “doesn’t comment on market rumours.”
Tata Motors gross leverage ratio on a consolidated basis shot up to
