Tata Motors - Q3 Beat Driven By JLR; India Also Sees Good Recovery: Motilal Oswal
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Motilal Oswal Report
Tata Motors Ltd. saw continued volume recovery in both businesses in Q3 FY21.
In addition to this factor, the benefit of the mix at Jaguar Land Rover, certain favorable reversals at JLR, and cost-cutting initiatives came together to deliver good all-round performance and QoQ debt reduction.
Continued mix improvement in JLR and India, along with overall tight cost/capex control, would drive sharp improvement in operating performance and debt reduction.
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