Tata Motors Cracks 10% Post Weak Q3 JLR Show; Analysts Slash Earnings Estimates

Tata Motors share price crashed as much as 10 percent in morning Tuesday after disappointing set of Jaguar Land Rover earnings and weak equity market conditions, though standalone performance was strong. Analysts retained their ratings but slashed earnings estimates.

The stock touched its 52-week low of Rs 357 in opening today. At 09:44 hours IST, it was quoting at Rs 366.05, down Rs 30.00, or 7.57 percent on the BSE.

Consolidated profit growth of nearly 11-fold year-on-year at Rs 1,215 crore for December quarter was much below CNBC-TV18 poll of Rs 3,040 crore. The multi-fold growth was due to low base in year-ago quarter, but sequentially the bottomline declined 51 percent.

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