Tata Motors PV Share Price Live Updates: Stock opens 6% lower after Q2 Loss; JLR Guidance cut

Tata Motors PV Share Price Live Updates:

Shares of Tata Motors Passenger Vehicles Ltd. (TMPVL) will be in focus on Monday, November 17, as the company will be reacting to its September quarter results that were reported after market hours on Friday. The highlight of TMPVL's quarterly result, the first after its demerger, was the cut to Jaguar Land Rover (JLR), its luxury car unit's EBIT margin guidance to just 0% to 2% from 5% to 7% earlier. From near zero, JLR now sees negative free cash flow of up to £2.5 billion. On an adjusted basis, Tata Motors PV reported a net loss of ₹6,370 crore at the end of the September quarter, compared to a net profit of ₹3,056 crore during the same quarter last year. There was an impact of ₹2,008 crore due to the JLR cyberattack issue, which crippled production for a better part of the quarter. There was a forex loss of ₹361 crore for TMPVL during the quarter, compared to a forex gain of ₹436 crore last year. Free cash flow during the quarter was a negative ₹8,300 crore due to lower volumes as a result of the cyber attack. Brokerages covering the stock are neutral to bearish. Watch this space for all live updates.