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TATAMOTORS - Tata Motors News Story

₹131.75 -1.1  -0.8%

Last Trade - 9:16am

Consumer Cyclicals
Large Cap
Market Cap £5.09bn
Enterprise Value £11.19bn
Revenue £24.66bn
Position in Universe 61st / 3011

BUZZ-Tata Motors jumps after raising JLR cost-savings target

Mon 3rd August, 2020 6:12am
** Automaker's shares  TAMO.NS  rise as much as 8.5% to a 
near two-month peak of 113.50 rupees, amid a weaker broader
    ** Tata Motors on Friday raised its cost-savings target for
its luxury car unit, Jaguar Land Rover, by 1 bln pounds ($1.31
bln) and now expects to save 6 bln pounds in costs by March 2021
    ** The carmaker logged a consolidated loss of 84.38 bln
rupees for June quarter, but said it expects a gradual pickup in
demand and an improvement in supply in H2 of fiscal 2020-2021
    ** "Company's commentary on cash and cost savings on the JLR
front is fuelling optimism on street," said Shashank Kanodia,
lead analyst auto at ICICI Direct Research
    ** Stock top gainer on the NSE Nifty 50 Index  .NSEI , which
is down ~1%  .BO 
    ** Around 63.7 mln Tata Motors shares change hands by 0438
GMT, vs 30-day avg of 57.1 mln shares
    ** At least 4 brokerages have upgraded their rating on the
stock after co reported results, while 6 have downgraded it 
    ** Stock down over 43.48% this year, as of last close

($1 = 0.7638 pounds)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))
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