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Tata Motors: Stellar standalone show, but chip shortage weighs

Though the Jaguar Land Rover (JLR) numbers were especially hit, the superlative performance of the standalone business helped in partially arresting the impact

November 02, 2021 / 09:30 PM IST
Tata Motors: Stellar standalone show, but chip shortage weighs

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The September quarter results of Tata Motors Ltd (TML; CMP: Rs 486.4; Market Cap: Rs 1,74,000 crore) were impacted by the shortage of semiconductor chips (required for electronic control units). Though the Jaguar Land Rover (JLR) numbers were especially hit, the superlative performance of the standalone business helped in partially arresting the impact. September 2021 quarter snapshot (image) (image) Key highlights JLR: Shortage of chips hits production Retail volumes declined 26 percent on a quarter-on-quarter (QoQ) basis on the back of the...

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