Tata Motors PV, Bharti Airtel, Hero MotoCorp shares fall up to 2% ahead of Q3 results today: Here's what brokerages expect

Tata Motors PV, Bharti Airtel, Hero MotoCorp shares fall up to 2% ahead of Q3 results today: Here's what brokerages expect

• Tata Motors PV, Hero MotoCorp, Bharti Airtel fell up to 1.5% ahead of Q3 results
• Brokerages predict Tata Motors PV revenue to rise, JLR revenue to fall.
• Bharti Airtel Q3 profit may halve; Hero MotoCorp profit to rise 14.5% YoY

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Shares of Tata Motors Passenger Vehicles, Hero MotoCorp, Bharti Airtel fell up to 1.5% on February 5 ahead of December quarter results later in the day. Here's what brokerages expect:

Tata Motors PV

Shares of Tata Motors Passenger Vehicles were trading 1.5% lower at Rs 369.65 apiece ahead of Q3 results.

Investec said luxury unit JLR revenue to decline 38% YoY owing to sharp decline in volumes, while domestic PV revenue in contrast could grow 29% YoY, led by strong volumes

JLR EBIT margin to decline QoQ to 10.8%, due to negative operating leverage as shutdown continued into Q3, following which restart of ops was gradual, said HDFC Securities.

Ambit Capital said India PV business EBITDA margin improvement is restricted by commodity inflation.

Nomura said overall revenue could decline 3% QoQ.

The stock fell 18% in 2025.

Bharti Airtel

Shares of Bharti Airtel slipped 2% to Rs 1,988.7 apiece ahead of December quarter results.

Analysts on average see company's Q3 net profit halving to Rs 7,367 crore; year-ago profit was lifted by a Rs 7,550-crore exceptional gain from its Indus Towers stake, showed data compiled by LSEG.

Brokerage Ambit Capital has a "Buy" rating with price target of Rs 2,528 on the telco stock and expects 2.4% sequential ARPU growth for company, led by elimination of entry level plans.

Centrum Capital has a "Buy" rating and price target of Rs 2,444 on the stock and expects company's India wireless subscribe base to rise by 3 million sequentially.

Both brokerages expect company's revenue to rise 19.4-20% YoY.

The stock gained 32.6% in 2025 and is down 4% so far in 2026.

Hero MotoCorp

Shares of Hero MotoCorp were trading 1% lower at Rs 5,788.5 apiece ahead of the December quarter results later on February 5.

Analysts on average expect India's top two-wheeler maker by sales to report a 14.5% YoY increase in Q3 profit to Rs 1,378 crore, showed data compiled by LSEG.

The company beat Q2 profit estimates on the back of demand fueled by domestic tax cuts as well as strong exports.

The stock gained about 39% in 2025 and is up 1.4% YTD, while TVS Motor rose 57% last year and has traded largely flat this year.