Tata Motors jumped 4.43% to Rs 176.70 after the company reassured that recent issues at UK ports have had no immediate impact for Jaguar Land Rover (JLR).
Reassuring stakeholders, the auto major on Thursday said: "Jaguar Land Rover has comprehensive contingency planning and actions in place to respond to ongoing COVID challenges and disruption. This is subject to constant review.
Recent issues at UK ports have had no immediate impact for Jaguar Land Rover. Our guidance of improved growth, profitability and cash flows in second half of the year continues to hold."
Shares of Tata Motors tumbled recently after the media reported about a new mutant strain of Coronavirus, which is allegedly even more transmissible, is spreading rapidly in the United Kingdom. The stock lost 6.26% in three days to settle at Rs 169.20 yesterday, from its close of Rs 180.50 on Friday (18 December 2020).
Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
The auto major reported a consolidated net loss of Rs 343.28 crore in Q2 FY21 as compared to a net profit of Rs 175.76 crore in Q2 FY20. Net sales during the quarter declined 18.4% year-on-year (Y-o-Y) to Rs 52,839.02 crore. The luxury brand JLR brings in most of Tata Motor's revenue.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
