TATA Motor’s share price felled 5.7% on 16th June after the company relased its results on 15th June. The company reported weak performance on a consolidated basis it reported a loss of 9800 crores as coronavirus lockdowns across its markets ravaged sales, including JLR. JLR which contributed the bulk of Tata Motor’s Revenues reported a pre tax loss of 501 million pounds after it took a hit of 800 million pounds because of novel coronavirus.
Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021.
Shoppers Stop shed 5.5% on 16th June after the retail chain Shoppers Stop on Monday reported a consolidated loss of 127 crore for the fourth quarter ended on March 31st 2020 with coronavirus pandemic taking a toll on its operations. The company had reported a net profit of 6.5 crores in same quarter previous year. Revenue from operations declined to 724 crores during the period under review from 813 crores in same quarter previous year. The company also said in a statement about the current situation clearly about the future situation and how this outbreak would hit going forward. The statement,” This year and particularly this quarter have been unprecendented due to the impact of COVID-19”.
Check out our stock analysis here