Hot Chips - Tata Motors
Jayashree / 16 Aug 2010
The strong results posted by the company reflect the combined impact of continued cost rationalisation at Jaguar Land Rover (JLR) and benign conditions in the global luxury car market. The management’s tone on the company’s outlook was perceptibly positive. It expects commercial vehicle volumes to remain robust and 2Q to be particularly strong on account of expected pre-buying before the emission norm changes in October 2010.
TATA MOTORS
BSE Code: 500570
Volume: 3762463
CMP: Rs 1006.65
The strong results posted by the company reflect the combined impact of continued cost rationalisation at Jaguar Land Rover (JLR) and benign conditions in the global luxury car market. For JLR, the average realisations per vehicle rose by a stupendous 7 per cent QoQ. While a part of this is attributable to the favourable currency movements, the remainder is due to the better product mix and lower discounts. With a strong underlying demand for luxury cars, it is expected that JLR will continue to operate at high utilisation levels. Benefits from cost-cutting measures to flow through in H2FY11. The management’s tone on the company’s outlook was perceptibly positive. It expects commercial vehicle volumes to remain robust and 2Q to be particularly strong on account of expected pre-buying before the emission norm changes in October 2010.
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