We expect Tata Motors's SAB to record robust top-line growth driven by an anticipated strong recovery in economic conditions in the domestic market in 2H 10 and FY 2011. As a result we believe that commercial vehicle sales are headed for a strong recovery, aided by the government's increasing emphasis on infrastructure development in the country....

Tata Motors Ltd. (Tata Motors) reported FY 2009 Standalone Automotive Business (SAB) results on 29 May 2009. Revenues were broadly in line with our expectations in FY 2009. Despite our concerns over the Jaguar LandRover business and highly leverage position, based on our expectations of further softening of interest rates, modest revival in Indian economic conditions and introduction of new vehicles, we expect a positive impact on earnings....

Tata Motors is currently experiencing extremely difficult operating conditions, with the global economic downturn impacting domestic sales and exports, coupled with higher interest rates impacting the bottom-line and a high leverage position for refinancing JLR. However, 4Q 09 has provided some positive factors with domestic Commercial Vehicles (CV) reporting a 41.3% q-o-q improvement in sales volume, fuelled by depreciation benefits…