Tata Motors shares headed for free fall on JLR guidance

Tata Motors shares are likely to witness a selloff on Thursday tracking heavy losses in its American Depository Receipt overnight. Tata Motors ADR plunged 10 per cent after the company forecast a lower EBITDA margin for its Jaguar Land Rover (JLR) subsidiary in the October-December quarter compared with the previous two quarters. Margins for the British luxury brands, owned by India's Tata Motors, are likely to be hit due to exc...