Tata Motors Shares on Track for 7th Straight Loss

Tata Motors shares traded over 2 per cent lower on Monday as sentiment continued to remain weak after the automaker reported weak quarterly earnings last month. The stock was among the top Nifty losers today, heading towards its seventh straight day of fall.
  Tata Motors shares have shed as much as 14 per cent since May 26, when the company reported a 56 per cent drop in its March quarter net profit. Profitability of India's biggest automaker by revenue was hit because of slowdown in Jaguar Range Rover sales in China. Tata Motors' bottom line was also impacted by one-off losses.
  Market analyst Ambareesh Baliga had said weak JLR sales have dented Tata Motors shares. As far as commercial vehicle sales are concerned, Ashok Leyland is a better bet, he added.
  "The expectation was that the performance will be superlative, but they came with below-average performance. This is the disappointment that is playing out," said Mr Baliga.
  However, Lancelot D'Cunha, CEO of ITI Wealth Management, said investors can buy Tata Motors shares with a 1-2 year perspective as the stock can move higher around Rs 550. The selling in Tata Motors has been more than what is warranted, he added.
  "China might have shown some slowdown, but JLR will continue to grow in Chinese and other markets because they are introducing new models in coming years," Mr D'Cunha said.
  Commercial vehicles sales have also picked up some traction, which could add to valuations of Tata Motors, he added.
  Tata Motors shares ended 1.47 per cent lower at Rs 435.60 apiece, underperforming the broader Nifty, which closed 0.87 per cent lower.