Tata Motors Q1 loss doubles to Rs 3,680 crore as JLR woes continue

Tata Motors Q1 loss doubles to Rs 3,680 crore as JLR woes continue

NEW DELHI: Homegrown auto major Tata Motors on Thursday said its losses doubled to Rs 3,679.66 crore in the June quarter against a loss of Rs 1,862.57 crore last year. Analysts in an ETNOW poll had projected a hit of Rs 1,890 crore.

The group’s overall revenue came in at Rs 60,830.16 crore, lower than Rs 65,956.78 crore in the same quarter last year.

The sales number, however, was higher than ET NOW poll estimate of Rs 57,500 crore.

Technical View: 

Tata Motors Ltd ended at Rs. 144.35, down by 6.9 points or 4.56% from its previous closing of Rs. 151.25 on the BSE.
The scrip opened at Rs. 151.70 and touched a high and low of Rs. 152.55 and Rs. 143.75 respectively. A total of 3,64,29,085 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA