51% jump in JLR sales to lead to surprise re-rating of the Tata Motors Lts stock price.
Tata Motors Ltd. (CMP Rs 302) shares are expected to do well on the surprising 51% yoy volume growth for the month of March shown by its global JLR business. The contributing measures to this outstanding performance is the sharp spurt in Evoque sales and beter than expected performance of its Jaguar portfolio.
In addition the 50 bps repo rate cut undertaken by the Reserve Bank of India (RBI) was better than street expectations and signals the end of the rising interest rate scenario. So this should be significantly positive for the Tata Motors domestic business also.
Also attached is a detailed Initiating covergae report on Tata Motors for reference.
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| Vinit Bolinjkar Head of Research, Ventura Securities Ltd
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