Tata Motors sales will rebound in March quarter: Morgan Stanley

Tags: News
Morgan Stanley maintains its 'overweight' rating on Tata Motors and is optimistic of a strong rebound in sales in the January-March quarter, after visiting Solihull and Castel Bromwich facilities of luxury unit Jaguar Land Rover.

The investment bank says the recent weakness in numbers is due to the slow ramp-up of launches rather than a "demand issue".

Most of the upgrades are slated for shipment in December, thus numbers thereon should see a strong sequential pickup, the note added.

JLR's global sales growth, a key issue for investors in Tata Motors, has slowed in recent months and sales fell in September for the first time in 14 months.

At 2:24 p.m., Tata Motors shares were up around 2.4 percent at 277.90 rupees.

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