Tata Motors has testified a net loss of Rs.4,451 crore for June ended quarter, today. Furthermore, the loss chops down from Rs.8,438 crore to Rs.4,451 crore and declared a rise in consolidated revenue by 107.6 percent which stood at Rs. 66,406 crore year on year basis. Consequently, beats the analyst’s predictions.
Due to the national lockdown, the company has impacted its business in the short run. Moreover, the company is expecting to improve its performance gradually due to an improvement in the pandemic situation.
Covid-19 hits the sales adversely which can be clearly seen in quarterly results. Moreover, retails sales are up by 68.1 percent from a year ago.
Jaguar Land Rover reported a rise of 73.7 percent in revenues which came at Rs. 4.96 billion. But still, the performance was not that good due to the scarcity in the supply of semiconductors. The company’s expectations were way higher than the real numbers.
The company is expecting to meet the challenging situation in the coming quarter.
Technical Levels
Tata Motors has support at 290
Close below 290 will take it to 278 — 272 levels
Traders will get a reasonable opportunity to buy around 272 levels with a strict stop loss below 245 on a closing basis.
Tata Motors reflects an immediate resistance at 303