New launch success, Jaguar Land Rover margin key for more gains in TaMo

The stock of auto major Tata Motors is up 11 per cent since its monthly lows, with half of those gains coming in the last three trading sessions. Restructuring of domestic operations over the next year, new launches, higher sales at subsidiary Jaguar Land Rover (JLR), and further deleveraging are key triggers for the stock.

In the domestic passenger vehicle (PV) business, the company’s PV volumes in June declined 8 per cent year-on-year (Y-o-Y) and were below estimates. The company indicated that it has proactively reduced wholesales to keep channel inventory under control amid weak