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Tata Motors DVR
Remarks : Tata Motors is a market leader in medium and heavy commercial vehicle (MHCV) and light commercial
vehicle (LCV; Ace) segments; it is the leader in the largest growth segment in the automobile industry. It
is also a leading player in the diesel passenger car segment in the domestic market.
Tata Motors has significantly reduced its debt from 4x to under 1.6x in the last two years at the consolidated
level. Its balance sheet has been derisked over the last few years.
Jaguar & Land Rover (JLR) account for 80% of its consolidated profitability and would be the key growth
driver going ahead. There has been a significant jump in JLR volumes in Q2FY2012 due to uptick from
China and new introduction of new products such as Evoque.
We prefer playing the Tata Motors story through Tata Motors DVR as it is currently trading at over 45%
discount against the long-term average discount of 35% to Tata Motors.
Tata Motors DVR also gets higher dividend over common shares of Tata Motors which makes the Tata
Motors DVR dividend yield attractive (Rs4.4 per share).
click link below for COMPLETE list, details of other company in Mahurat Picks for Diwali 2011 ::ShareKhan
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