5.74 +0.12 (2.23%)
Pre-market: 9:26AM EDT
|Bid||5.65 x 4000|
|Ask||5.69 x 3100|
|Day's range||5.61 - 5.73|
|52-week range||3.92 - 14.03|
|Beta (5Y monthly)||1.99|
|PE ratio (TTM)||2.90|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||14 Jul 2016|
|1y target est||4.50|
The loan request had been lodged with the Department for Business, Energy and Industrial Strategy, the Sky News report said, citing a source close to Jaguar Land Rover, whose parent company is Tata Motors. "The claim is inaccurate and speculative," Jaguar Land Rover said in an emailed statement to Reuters. Sky News, citing a spokesman, said about 20,000 of its employees had been furloughed under the government's emergency wage subsidy program.
Shares of Indian automaker Tata Motors (NYSE: TTM) closed lower for a second day on Wednesday, as auto investors continued to react to an influential analyst's view that the company is essentially worthless without its Jaguar Land Rover (JLR) subsidiary. In a note on Monday, CLSA analyst Amyn Pirani downgraded Tata's stock to underperform, from buy, and cut his price target for the company's BSE-traded shares to 85 rupees ($1.13) from 190 rupees ($2.52). Jaguar Land Rover's British factories have been closed since March 20, exacerbating parent Tata Motors' financial struggles.
Jaguar Land Rover (JLR) will restart some production in Europe from May 18, including at one of its three British car plants and its factory in Slovakia, where the new Defender vehicle is being made. Output will also resume at JLR's central English engine factory in Wolverhampton and at a plant in Austria where the electric I-Pace is built but no date has been set for the reopening of its British Halewood or Castle Bromwich locations.
The company said its latest plug-in hybrid system can switch to an electric-only mode for shorter rides, petrol-and-electric driving for longer distances and a sole petrol engine. "While being driven, energy generated by the engine during acceleration, or by braking in electric or hybrid mode, is harvested and used to charge the battery," the Tata Motors Ltd-owned company said, adding that its hybrid system emits lower emissions. BMW, which already has 500,000 electric and hybrid cars on the road, also said it plans to double that number by the end of next year.
Tata Motors Ltd said on Friday it would spin off its passenger vehicles arm as a separate unit within the company, at a time when the coronavirus has disrupted auto production. Tata Motors, India's No. 2 automaker by revenue, said the spinoff will help it secure strategic alliances, which will provide the company access to new products, car parts, technologies and capital. Car sales in India have dropped for 16 straight months up to February amid slowing economic growth, while the pandemic has halted auto production as the government imposed a 21-day nationwide lockdown this week.
India's Tata Motors is rapidly scaling down activity at its car factory in the western state of Maharashtra and is preparing to close it if concerns about coronavirus deepen, the company said on Friday. The move by Tata Motors, which owns the British luxury car brands Jaguar and Land Rover, comes as the state recorded the highest number of confirmed cases of coronavirus in India. On Friday, Maharashtra ordered all shops and offices to close except those providing essential services in three major cities, including the financial capital Mumbai and Pune, where the Tata Motors plant and engineering centre is located.
The carmaker said it intends to resume production at the facilities in the week of April 20. Jaguar Land Rover's manufacturing plants in Brazil and India are continuing their operations, the company said in an emailed statement.
Indian automaker Tata Motors warned on Friday of lower profit at its British luxury car brand Jaguar Land Rover (JLR) for the fiscal year as the coronavirus outbreak has hit sales in China. The outbreak, which started in China and is spreading globally, has hurt sales in the world's biggest auto market. The spread of the virus to South Korea, Japan, and Northern Italy is creating similar issues, Tata said in a statement.
Indian automakers Mahindra and Mahindra Ltd (M&M) and Tata Motors said on Sunday their supply of parts from China had been hit, as fallout from the coronavirus outbreak mounts. "Going into March, we anticipate the challenge on parts-supply to continue for another few weeks, before we get back to normalcy," Veejay Ram Nakra, Chief of Sales and Marketing at M&M's automotive division said in a press release. Tata Motors said in a press release that it, too, had been hit by supply disruptions due to the coronavirus outbreak in China, and was working to mitigate the situation.
India's competition regulator is examining allegations that Tata Motors and two finance firms of its $100 billion parent group abused their market position while selling commercial vehicles, according to three sources and legal documents seen by Reuters. The Competition Commission of India (CCI) is reviewing a complaint which alleges the country's biggest seller of trucks dictated terms around the quantity and type of vehicles its former dealer in northern India - Varanasi Auto Sales - should stock. The Tata Group has faced antitrust reviews in the past.
Jaguar Land Rover has introduced a new concept vehicle that cuts a very different figure relative to its usual fare: It's a four-wheeled electric urban mobility concept called "Project Vector" that looks more like a low-floored airport shuttle train car than a traditional car. Externally, JLR's Vector concept looks very similar, with a front and back end that could easily pass for one another, as well as sliding doors that open from the middle to allow the maximum amount of space for entry and exit. Unlike Cruise's strictly driverless design, however, the Jaguar vehicle features front-facing seats and a steering wheel for human control, though the interior is also "configurable" to eventually allow autonomous use, and to also offer flexibility for accommodating goods delivery as well as passenger transportation.
Jaguar Land Rover (JLR) has flown Chinese parts in suitcases to Britain to maintain production and could run out after two weeks as the impact of the coronavirus outbreak hits firms across countries and industries. Britain's biggest carmaker, which operates three car factories in its home market making nearly 400,000 vehicles a year, joined major global companies such as Apple in warning of the impact of the virus on supply chains. Components made in China are used in millions of vehicles assembled around the world and Hubei province - the centre of the virus outbreak - is a major hub for vehicle parts production and shipments.
Jaguar Land Rover will reduce or stop production on certain days at two of its British factories over the next few weeks as Britain's biggest carmaker pursues cost-cutting measures in response to falling demand. JLR posted a 2.3% drop in retail sales in the three months to the end of December and has targeted billions of pounds worth of savings to tackle falling diesel demand in Europe and a tough sales environment in China. The firm will halt production on selected days over a four-week period from late February at its Castle Bromwich factory in central England and stop production on some half or full days at its nearby Solihull facility until the end of March.
* MAS says policy stance unchanged, but signals room for easing * Thai c.bank decision due later in the day * Philippine Jan inflation rises, but rate cut still likely * Indonesia Q4 GDP growth rate slower-than-expected By Shruti Sonal Feb 5 (Reuters) - Philippine stocks rose on Wednesday, boosted by expectations of an interest rate cut despite a surprise jump in January inflation, while Singapore shares gained after its central bank said it had room to ease policy if required. The Philippine index gained more than 1.3%, with index heavyweights San Miguel Corp and GT Capital Holdings Inc jumping about 5% and 3%, respectively. Data showed January inflation was at its highest in eight months, but the outcome was still within the Philippine central bank's comfort range and supported views that it will likely cut rates at its meeting on Thursday.
The coronavirus outbreak in China could start to disrupt India's production of smartphones if it continues to spread in February, as it could delay component shipments, industry executives said. India is the world's biggest smartphone maker after China but is still largely dependent on China for supplies of parts such as cells, display panels, camera modules and printed circuit boards. Taiwan's Foxconn and Wistron make iPhones in India for Apple, and Foxconn produces phones there for China's Xiaomi as well.