Tata Motors pulled higher by over 1 per cent early on Wednesday ahead of its financial results for the quarter to March.
The scrip was up 1.22 per cent at Rs 311.50 at around 9.20 am. The BSE Sensex was down 17 points, or 0.05 per cent, at 34,633.
Brokerage firm Motilal Oswal sees 11.30 per cent year-on-year (yoy) rise in net profit of Tata Motors. Consolidated revenue is estimated to grow 15.50 per cent.
It has asked market participants to zero in on the current demand trends for JLR and outlook for key markets. "Update on new launches, impact of forex hedge loss, update on Chery JV operations and CV business outlook should also be watched in upcoming quarterly numbers,"it stated.
Tata Motors may report consolidated net profit of Rs 4,070 in Q4FY18, so believes Axis Capital. JLR margin is seen to grow at 12.40 per cent whereas India margin is likely to come in at 8.50 per cent. The brokerage firm sees 10 per cent year-on-year rise in sales.
Prabhudas Lilladher is expecting 4.70 per cent annual jump in adjusted net profit at Rs 4,536.20 crore. “JLRs Q4FY18 volumes are expected to be lower around 3 per cent yoy with margins at 13.5 per cent, lower 100 bps yoy, owing to expectations of an unfavourable product mix,” it said further.
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