Neutral Tata Motors Ltd For Target Rs. 810 by Motilal Oswal Financial Services Ltd

* For India, both PV and CV volumes remained largely flat YoY.
* CV’s EBITDA margin is expected to expand 50bp YoY, while EBITDA margin for PV is likely to remain stable YoY.
* JLR volumes are expected to remain flat YoY. However, we expect EBITDA margin to remain under pressure and contract 270bp YoY due to rising discounts.
* We cut our FY26E EPS by 5.5% to factor in continued margin pressure, particularly for JLR business.
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412









