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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Tata Motors Limited    500570   INE155A01022

TATA MOTORS LIMITED

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Tata Motors : Jaguar seeks state loan as coronavirus pandemic takes toll - Sky News

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05/23/2020 | 10:49am EDT

Jaguar Land Rover is in talks with the British government about a request for temporary state funding of more than 1 billion pounds, Sky News said on Saturday, a report the company said was inaccurate.

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. The statement said the company was in "regular discussion with government on a whole range of matters and the content of our private discussions remains confidential."

The company recently restarted operations at Solihull plant in UK. "Manufacturing will resume at Halewood factory on 8 June, starting with one shift," it said https://bit.ly/2zs6Wl8 in a statement on Wednesday.

Sky News, citing a spokesman, said about 20,000 of its employees had been furloughed under the government's emergency wage subsidy programme.

On May 1, rating agency Fitch downgraded its credit rating to the company, saying that "risks of the COVID-19 pandemic to both demand in JLR's end-markets and disruption to operations has increased further".

Sky News said the government's position on JLR's latest loan request was unclear this weekend.

Tata Motors did not immediately respond to a Reuters request for comment.

(Reporting by Roshan Abraham in Bengaluru; Additional Reporting by Aishwarya Nair. Editing by Jane Merriman and David Evans)

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Financials
Sales 2020 2 644 B 34 998 M 34 998 M
Net income 2020 -34 750 M -460 M -460 M
Net Debt 2020 690 B 9 129 M 9 129 M
P/E ratio 2020 -11,9x
Yield 2020 0,15%
Capitalization 366 B 4 841 M 4 842 M
EV / Sales 2019
EV / Sales 2020 0,40x
Nbr of Employees 81 090
Free-Float 63,2%
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 125,23 INR
Last Close Price 110,70 INR
Spread / Highest target 215%
Spread / Average Target 13,1%
Spread / Lowest Target -54,8%
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Managers
NameTitle
Günter Karl Butschek Chief Executive Officer, Director & MD
Ravindra Kumar G.P President & Chief Human Resources Officer
Natarajan Chandrasekaran Non-Executive Chairman
P. B. Balaji Group Chief Financial Officer
Rajendra Petkar Chief Technology Officer
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