Buy Tata Motors - Automobiles - Kotak

JLR retail volumes grow by 10% yoy in October. JLR retail volumes grew by 10% yoy in October 2012, which were 6% below our estimates. The main reason behind the disappointment was lower retail volumes of the new Range Rover. Management indicated that production of new Range Rover and new XF Sportsback will ramp up over the next two months.

We maintain our BUY rating on the stock as we believe JLR is likely to gain market share due to exciting new launches.

Source : Equity Bulls

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