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|Bid||0.00 x 1000|
|Ask||0.00 x 3100|
|Day's Range||9.90 - 10.05|
|52 Week Range||3.92 - 14.03|
|Beta (5Y Monthly)||2.07|
|PE Ratio (TTM)||5.17|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jul 14, 2016|
|1y Target Est||7.10|
Moody's Investors Service has downgraded to Ba1 from Baa3 the rating on the GBP98 million senior unsecured notes issued by TML Holdings Pte Limited, a wholly-owned subsidiary of Tata Motors Limited (B1 negative). The notes are supported by an irrevocable standby letter of credit (SBLC) from Bank of Baroda (London). Moody's rating action was prompted by the downgrade on 4 September of Bank of Baroda's long-term local and foreign currency deposit ratings to Ba1 from Baa3 and its long-term Counterparty Risk Assessment (CR Assessment) to Ba1(cr) from Baa3(cr).
Indian shares edged up on Thursday after activity in the country's coronavirus-crippled services industry contracted at a slower pace than in July, while Vodafone Idea rose after a report said U.S. wireless carrier Verizon Communications and Amazon.com Inc may invest in the company. A survey showed activity in India's services industry fell for a sixth straight month as coronavirus restrictions continued to hurt business operations and demand, but improved from July. "The numbers are not that good, but its not that bad either, and markets don't have anything to immediately react to, so we are taking positive cues from global markets which are doing fairly well," said Deepak Jasani, head of research at HDFC Securities in Mumbai.
While Honda (HMC) reaches $85-million settlement over the Takata airbag scandal, Ford (F) and Fiat Chrysler (FCAU) issue recall for 528 and 132K vehicles, respectively.
India's Tata Motors Ltd <TAMO.NS> will significantly reduce its group automotive debt of 480 billion rupees ($6.4 billion) over the next three years, the company's chairman said during its annual shareholder meeting on Tuesday. Tata Motors is "deleveraging this business substantially" and has set targets to generate free cash flows, N Chandrasekaran said. This has derailed Tata Motors' turnaround plans for its domestic business and British luxury unit, Jaguar Land Rover (JLR), but the company said it is committed to cutting costs, tightening investment spending and improving profitability.
Auto consultant LMC Automotive on Monday cut its estimate for a decline in full-year global light vehicle sales, citing a speedy recovery for the sector hit by the coronavirus crisis. Global light vehicle sales are expected to fall about 16.7% to about 75 million units this year, improving from a prior estimate of a drop of about 19%, LMC said. "Light vehicle sales were just over 90 million units in 2019, so the selling rate in July shows a market running at almost 97% of last year's total," LMC said.
The report https://www.ft.com/content/ea0f0775-d97e-4aba-9ec9-7da1945f2a1a said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors Ltd <TAMO.NS> and Tata Steel, both owned by Indian conglomerate Tata Group. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement.
India's Tata Motors Ltd <TAMO.NS> warned on Friday that its luxury car unit, Jaguar Land Rover (JLR), may post another quarterly loss as the coronavirus crisis saps demand and cripples its supply chain. The pandemic has taken a heavy toll on automakers globally and piled pressure on Tata Motors, which has been trying to improve JLR's cash flows by reining in costs after geopolitical and regulatory challenges hurt the British carmaker's sales. Tata Motors raised its cost savings target for JLR by 1 billion pounds ($1.31 billion) and now expects to save 6 billion pounds in costs by March 2021, Chief Financial Officer PB Balaji said on Friday, noting that it had already achieved savings of 4.7 billion pounds.
Before we get started, I would like to remind everyone that today's call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to TTM's future business outlook. This transaction provides us the balance sheet flexibility to continue the journey to increase TTMs focus on differentiation and less capital-intensive, less seasonal, long-cycle end markets.
|Upgrade||UBS: Neutral to Buy||1/27/2020|
|Upgrade||CLSA: Sell to Buy||10/28/2019|
|Downgrade||Nomura: Buy to Neutral||2/8/2019|
|Downgrade||Bank of America: Buy to Neutral||2/8/2019|
|Downgrade||Bernstein: Outperform to Market Perform||8/11/2017|
|Downgrade||Morgan Stanley: Overweight to Equal-Weight||8/10/2017|
Sector(s): Consumer Cyclical
Industry: Auto Manufacturers
Full Time Employees: 78,906
Tata Motors Limited designs, develops, manufactures, and sells a range of automotive vehicles. It offers passenger cars; sports utility vehicles; small commercial vehicles and pickup trucks; buses; and intermediate, light, medium, and heavy commercial vehicles, including trucks, tractors, tippers, multi-axle vehicles, pickups, dump trucks, tractor-trailers, mixers, and cargo vehicles, as well as related spare parts and accessories. The company also provides fully built solutions for applications, such as garbage compactors, containers, tankers, reefers, and diesel bowser, as well as electric vehicles. In addition, it offers information technology services, machine tools, and factory automation solutions; vehicle financing services; and engines for industrial and marine applications. The company provides its products under the Tata, Daewoo, Fiat, Jaguar, and Land Rover brands. It operates in India, China, the United States, the United Kingdom, rest of Europe, and internationally. The company was formerly known as Tata Engineering and Locomotive Company Limited and changed its name to Tata Motors Limited in July 2003. Tata Motors Limited was founded in 1945 and is headquartered in Mumbai, India.