3 Tata Group stocks including Voltas tumble up to 12.8% in 6 sessions, wipe out ₹43,300 crore
Tata Motors share price tanks 9% after Q4 results 2024. Opportunity to buy? During the past six trading sessions, Tata Motors' shares experienced a 6.70% decline, causing a loss of ₹22,592.60 crore in market value. Similarly, Tata Power witnessed a 9.4% drop in the same period, resulting in a ₹14,731 crore reduction in market capitalisation.
Additionally, Voltas saw its market capitalisation decrease by ₹5,985.83 crore as its stock dropped by 12.8%. Collectively, these stocks have suffered a loss of ₹43,310 crore in market capitalisation. Also Read: Tata Sons doubles royalty fee for group firms: Here's how much Tata Steel, TCS, Tata Motors will pay Tata Motors delivered a record-breaking financial performance in FY24, yet it signaled a cautious sales outlook for the ongoing fiscal year within its Jaguar Land Rover division.
This cautious outlook prompted analysts to downgrade the stock, leading to a sharp decline in value. Jaguar Land Rover (JLR) announced on Friday that it anticipates margins on earnings before interest and taxes (EBIT) for fiscal 2025 to be similar to the 8.5% reported in the previous financial year. The company mentioned that it would need to increase spending to attract customers, although it did not provide specific details.
As for Jaguar, the order book shrank to 133,000 units as of March 31, from 148,000 units at the end of December. Also Read: JLR drives TaMo’s FY24, but slow lane ahead? Following the company's announcement, global brokerage firms such as Goldman Sachs Group and Morgan Stanley downgraded their recommendations. Goldman Sachs shifted its rating from ‘buy’ to ‘neutral’ and revised its 12-month price target down to ₹1,040 a share from ₹1,080.
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