Tata Motors: CLSA expects a sharp uptick in volume in FY24 driven by a strong order backlog
At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices
Analysts also believe that the government's export duty hike on steel and plastic bodes well for the auto sector due to elevated commodity inflation.
The firm expects a better business environment this fiscal even as chip shortages continue to making it challenging to cater to the enhanced demand
The Nifty Auto index is slowly inching towards 200-DMA; above which the index can gain up to 4 per cent.
Driven by an all-round strong performance, we expect Tata Motors to become earnings' positive in FY23 with a net profit of Rs 7,068 crore, said analysts at Sharekhan
The company guided for robust demand prospects (JLR order-book at 1.68 lakh units, up 13,000 units QoQ) coupled with healthy profitability going forward
Stocks to Watch Today: Bandhan Bank, BoB, Eicher Motors, Escorts, REC, SBI, Tech Mahindra and UCO Bank are likely to be in focus ahead of Q4 results; Delhivery and Venus Pipes IPOs close on Friday.
On a standalone basis, the automaker reported a net profit of Rs 413.35 crore in the period under review against a net profit of Rs 1,645.68 crore in the fourth quarter of 2020-21
The improvement in consumer sentiment, buoyancy in e-business, firming freight rates, reopening of schools and offices helped regenerate demand, says company's executive director
Business Standard brings you the top headlines on Thursday
Bags order of 39,000 units from e-com players
Though growth was seen across segments, big sales push came from small CVs used for last-mile delivery as demand from e-commerce firms remained strong
That compares with the 19,000 EVs it built and sold in the last financial year
Tata Motors on Saturday said it has hiked the prices of its passenger vehicles by an average 1.1 per cent with immediate effect
Strong rebound likely over the next two years could boost sentiment
The Mumbai-based automaker has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range
Tata Motors leads with a sharp jump in volume and market share
At 10:40 am; barring the Nifty PSU index which gained nearly a per cent, most of the other sectoral indices such as Nifty Bank, Financial Services, Auto and Realty were more or less unmoved.
A portfolio of successful and affordable EVs makes will help the firm target the white space