Tata Motors share falls 2% ahead of Q2 earnings

Tata Motors share was trading lower in early trade ahead of the firm's Q2 earnings to be announced today.  Stock of Tata Motors fell 2% to Rs 131 against Rs 133.65 on BSE. The share trades higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages.  

The share has lost 10.41% in one year and  fallen 28.39% since the beginning of this year.

Total 3.62 lakh shares changed hands amounting to turnover of Rs 4.94 crore on BSE. Market cap of the auto firm fell to Rs 40,836 crore.

The share hit its 52 week high of Rs 201.80 on January 15, 2020 and 52-week low of Rs 63.60 on March 24 this year.

ICICI Securities sees company's arm JLR reporting a loss which will impact financials of Tata Motors in Q2.

"JLR wholesale volumes declined 40 per cent YoY. Topline is expected to decline 14 per cent with EBITDA margin down 271bps to 8.1 per cent. We expect JLR to post revenues of GBP 4.3 billion (down ~29 per cent YoY) with adjusted Ebitda margin of 9 per cent (down 475bps YoY). On an operational basis, we expect JLR to report a loss of GBP 130 million," said ICICI Securities.

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In Q1, the Tata Group firm reported a loss for the second straight quarter as coronavirus lockdown affected its sales in India and overseas. Loss during the first quarter stood at Rs 8,438 crore against Rs 3,698.34 crore loss recorded in Q1FY20 and Rs 9,863.75 crore loss in Q4FY20.

Total revenue from operations slumped 48 per cent to Rs 31,983.06 crore during the quarter under review against Rs 61,466.99 crore in same period last year as lockdowns impacted sales at Jaguar Land Rover, company's luxury car unit.

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