INSUBCONTINENT EXCLUSIVE:
Tata Motors shares rose 3 per cent on Friday, making some recovery from recent losses but finishing the week on a flat note
past few weeks, say analysts
Tata Motors shares had declined 2 per cent on Thursday, after Tata Motors Group CFO P B Balaji said that Brexit is in "no one's
interest"."Jaguar Land Rover and Tata Motors have always maintained that the uncertainties from Brexit are avoidable and the business seeks
clarity to ensure that industry takes timely and right decisions to manage the transition
Additionally, Jaguar Land Rover needs free and full access to the single market beyond transition to remain competitive which we also firmly
believe is in the best long term interests of the United Kingdom," he said during market hours on Thursday.Those comments came a day after
Jaguar Land Rover CEO Ralf Speth said that a "bad" Brexit deal could jeopardise the carmaker's investment plans, cost it over 1.2 billion
pounds annually, and may even force it to close down plants and compel its exit from the UK.Britain is set to exit the 28-member European
Union (EU) in March next year, ending its over 40-year relationship with the bloc.The JLR CEO even indicated the prospect of a UK exit
Currently, Jaguar Land Rover employs over 40,000 workers in the UK."Jaguar Land Rover and Tata Motors have always maintained that the
uncertainties from Brexit are avoidable and the business seeks clarity to ensure that industry takes timely and right decisions to manage
Additionally, Jaguar Land Rover needs free and full access to the single market beyond transition to remain competitive which we also firmly
believe is in the best long term interests of the United Kingdom," Mr Balaji added on Thursday.Jaguar Land Rover had, in a presentation made
Analysts said those figures of investments were higher than the expectations.Tata Motors shares have declined 12.5 per cent since then.From
stock appears to be in the midst of a corrective recovery and a weekly close above the Rs 288 mark will be the first indication of medium
term greenshoots, he said
Mr Kapadia does not see a steep fall from the current level and advises investors to take a staggered approach to accumulate.K Subramanyam,
co-head, equity advisory, Altamount Capital, has a 'neutral' call on Tata Motors shares at the current level
Tata Motors shares can be an attractive buy below Rs 250, he said.Meanwhile, Tata Motors, earlier this month, reported a 64 per cent
year-on-year increase in domestic sales in June.
