Tata Motors PV June sales rose to 63,083 units vs 37,237 YoY.
Sales slightly missed estimates of 64,000 units.
Livesquawk •
Citi maintains a Sell on Tata Motors PV, target price ₹320, citing JLR concerns.
Sierra EV's 500 km+ range and premium features may modestly boost EV volumes, market share.
Livesquawk •
Tata Motors Passenger Vehicles to meet J.P. Morgan Asset Management UK on July 3, 5 PM.
Livesquawk •
Tata Motors PV forecasts Adjusted PBT to surpass ₹300B in FY29.
The unit targets ₹500B Adjusted PBT in FY31, indicating margin growth.
Livesquawk •
Nomura maintains Neutral on Tata Motors Passenger Vehicles with ₹373 target, citing JLR's FY27 guidance below estimates.
JLR expects double-digit revenue growth, 4% EBIT margin, FCF breakeven; valuation at 3.5x FY28 EV/EBITDA seen as fair amid risks.
Livesquawk •
CLSA maintains Outperform on Tata Motors Passenger Vehicles, sets ₹453 target citing JLR's EV-led pipeline, cost cuts, and North America focus.
Key highlights include China JV royalty upside, £3.7bn FY27 capex, £26bn revenue guidance, and FCF breakeven at ~300k units by FY28.