Kotak Institutional Equities said JLR is trading at a significantly higher multiple as compared to BMW, which is not justified.
Synopsis
Analysts expect near-term challenge for arm JLR; also cite Covid hit on auto co
Mumbai: Brokerages have a mixed view on Tata Motors after the company unexpectedly posted a consolidated loss of Rs 7,605 crore for the quarter ended March 31 mainly due to asset write-downs in subsidiary Jaguar Land Rover. Some brokerages raised target prices due to the rolling forward of valuations and as earnings were strong at an operating level. Shares of Tata Motors ended down 5.4 per cent at Rs 314.50 on Wednesday.
CLSA, Edelweiss and
