Shares in Tata Motors recovered from early losses and were up 2.3 percent on expectations of better sales and margin at subsidiary Jaguar Land Rover, traders said.

Tata Motors earlier fell as much as 3.1 percent, after posting its first drop in profit in five quarters on Thursday, as its Jaguar Land Rover (JLR) business faced higher spending and a drop in operating margin after 18 months of soaring profit.