Tata Motors - Standalone disappoints, JLR meets expectations - AMBIT

The 3QFY13 performance of Tata Motors' standalone operations was a clear disappointment, but the results of the larger contributor to earnings and valuation viz. Jaguar Land Rover (JLR) met our expectations.

With JLR continuing to report impressive volumes (January retail sales up 30%) thanks to continued strong demand from China, strong response to new products (new Range Rover and refreshed Jaguar models), and demand for Evoque holding up, we do not expect any significant changes to our earnings estimates or fair valuation for the stock.

Source : Equity Bulls

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