TATAMOTORS

PV shares tumble 7% after JLR trims outlook; Q2 profit boosted by one-off gains

s Passenger Vehicles (PV) shares slumped sharply after the automaker posted a softer-than-expected performance for the September quarter and reduced its forward guidance for Jaguar Land Rover (JLR). The quarter was weighed down by operational disruptions stemming from a cyber incident at JLR, although the company’s India business displayed steady momentum. Even with robust electric vehicle (EV) sales, overall margins came under pressure, with profitability flattered largely by a one-time exceptional gain. On Monday, November 17, PV stock plunged nearly 7%, hitting a low of ₹363 on the NSE after the company disclosed a subdued Q2 print and announced a downward revision to JLR’s margin and volume outlook. Additional Update (News Added): Market analysts noted that JLR’s lowered guidance comes at a time when global luxury car demand is moderating, particularly in Europe and China. Meanwhile, Tata Motors’ management reaffirmed its domestic EV expansion plans, hinting at new launches in FY26 to regain margin stability. Brokerage houses remain mixed, with some trimming target prices amid JLR uncertainty, while others maintain a positive long-term outlook due to strengthening domestic fundamentals. Motors PV shares tumble 7% after JLR trims outlook; Q2 profit boosted by one-off gains