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Shares of Tata Motors Ltd fell as much as 3.3 per cent to Rs 146.3, their lowest since February 11. The country’s biggest automaker by revenue is set to report its quarterly results on Thursday.
Consolidated loss is expected to come in at Rs 1,938 crore ($280.99 mln) for the three months to June 30, versus a loss of Rs 1,902 crore last year, according to Refinitiv data.
Revenue is also expected to fall around 14 per cent, amid a slump in demand at home.
The stock is set for a third straight session of losses; down 12.4 per cent this year as of last close. Sixteen of the 37 analysts covering the stock have a “buy” or ”strong buy” rating, 18 have “hold”, while three rate it at “sell” or “strong sell”; median PT is Rs 192 - Refinitiv data.
Rival Maruti Suzuki India Ltd, down 22.7 per cent this year, is due to report its results on Friday.
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