Jan 24, 2013, 09.44 AM IST
UBS cut Tata Motors' fiscal 2013 and 2014 earnings-per-share estimates by 6 percent after the automaker warned its luxury unit Jaguar Land Rover is likely to report a lower EBITDA margin in the October-December quarter.
UBS maintained its "sell" rating after the Tata announcement on Wednesday, citing "expensive" valuations, although the investment bank raised its price target to Rs 255 from Rs 250 as it rolls forward the target by six months.
Tata Motors stock price
On December 13, 2013, at 10:00 hrs Tata Motors was quoting at Rs 368.20, up Rs 7.60, or 2.11 percent. The 52-week high of the share was Rs 405.00 and the 52-week low was Rs 252.10.
The latest book value of the company is Rs 59.47 per share. At current value, the price-to-book value of the company was 6.19.
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