India's Tata Motors jumps on India-UK free trade pact, shareholder nod to split

Landmark Cars

07/05/2025 06:05

Updates

** India's Tata Motors TAMO.NS rise as much as 4% to 675 rupees, top gainer on blue-chip Nifty 50 .NSEI, which is down 0.3%

** India and the UK on Tuesday have concluded a free trade deal

** The FTA cuts auto import duties from more than 100% to 10% under a quota, making UK-made cars such as Jaguars and Land Rovers cheaper in India

** However, the impact is limited as India accounts for just 1.5% of JLR's global sales in FY25- ICICI Securities

** Adds, lower pricing for JLR cars may hurt rivals like Mercedes-Benz and could be negative for Landmark Cars, India's top Mercedes dealer

** Carmaker on Tuesday also said its shareholders have approved the plan to split the automaker into two listed companies, separating its passenger and commercial vehicle arms

** Co last March had said that it would divide its CV arm from its PV business to unlock better growth prospects

** Landmark Cars LANM.NS down 1.3%

** TAMO among 15 stocks on auto index .NIFTYAUTO rated "Buy" - data compiled by LSEG

** Stock down ~12% YTD vs auto index's .NIFTYAUTO 0.4% rise

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))