Chart of the day: Is the steering of Tata Motors completely in hands of JLR?

Tata Motors has managed to turnaround loss making Jaguar Land Rover unit in quick time, since acquiring it in 2008. The growth has been so phenomenal that the British luxury vehicle division now accounts for near 65% of Tata Motors' revenue and as much as 90% of its profits. Not surprisingly then the JLR's performance has been a key driver of its stock over the last two years. For instance, JLR sales last month were down 26%, compared to sales in March and the stock too declined 22%. However, over the Aug-March period (August 2011 - March 2012), the stock jumped 98%, with 72% rise in JLR sales.

Chart: Jaguar Land Rover monthly sales (Jan 2010-July 2012) versus stock price movement of Tata Motors.