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TATA MOTORS: JLR Nov-13 wholesale above est, driven by ramp-up in LR; Current momentum could drive upsides to estimates
16 Dec 09:40 AM
TTMT IN, Mkt Cap USD19.4b, CMP INR370, TP INR416, 12% Upside, Buy - JLR’s Nov-13 wholesale volumes grew by 15% YoY (+11% MoM) to 39,956 units, driven by 17% growth (+13% MoM) in Land Rover volumes to 33,203 units (v/s est 31,500) and 8% growth (+5% MoM) in Jaguar volumes to 6,753 units (v/s est 6,250). - JLR’s Nov-13 retails grew 25% YoY (+9....
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