Tata Motors rallies 18% as net loss narrows in September 2019 quarter

Analysts at Antique Stock Broking believe margin/volume/revenue/cash flow will further get amplified in coming quarters with the start of Defender delivery and ramp-up of new Evoque across markets.

Shares of Tata Motors have rallied 18 per cent to Rs 148 on the BSE in Muhurat trading Sunday, after the company reported a better-than-expected EBITDA (earnings before interest, tax, depreciation and amortization) margin at 10.9%, up 157bps year-on-year (YoY) and 607bps quarter on quarter (QoQ) in September quarter of financial year 2019-20 (Q2FY20). Margin expansion was attributed to Jaguar Land Rover (JLR) business despite a drag from domestic business.

Till 06:15 pm; a combined 780,794 shares changed hands and there were pending buy orders for 23 million shares on the NSE and BSE.

The management hopes that