Tata Motors is expected to see some moderation in its sales volume for the month of July.
What Happened: In a preview note, Nuvama Institutional Equities said that it expects the auto sector to register an uptrend every year, with double-digit growth seen in two-wheelers and single-digit growth in other segments.
As per the brokerage firm, the Tata Motors passenger vehicle segment is expected to see a 3.4% year-on-year decline at 46,200 units. The commercial vehicle segment is seen growing around 1% to 33,300 units for the month of July.
| Volume (units) | Jul-24 | Jul-23 | YoY (%) | Jun-24 | MoM (%) |
|---|---|---|---|---|---|
| Total CVs | 33,300 | 32,944 | 1.1 | 31,980 | 4.1 |
| Domestic PVs | 46,000 | 47,628 | (3.4) | 43,524 | 5.7 |
| Exports | 200 | 61 | 227.9 | 100 | 100.0 |
| Total PVs | 46,200 | 47,689 | (3.1) | 43,624 | 5.9 |
| Total | 79,500 | 80,633 | (1.4) | 75,604 | 5.2 |
The Tata Group company will also report its earnings for the quarter ended June on August 1. The company’s revenue is expected to be at around ₹1.08 lakh crore, with a net profit of around ₹5,061 crore.
Earlier in the day, Tata Motors’ share price continued its strong bull run to hit another all-time high. Technical analysts think the stock could have the legs to go even higher.
Price Action: Tata Motors’ share price was up 3.37% to close at ₹1,161.85 on Tuesday.
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