Equity Alert: Tata Motors down 2.4% ahead of Jan-Mar, FY08 earnings

[K.Karthik Raja]

Equity Alert: Tata Motors down 2.4% ahead of Jan-Mar, FY08 earnings
MUMBAI--11:39AM--Shares of Tata Motors were down 2.44% at 616.10
rupees
ahead of the company's Jan-Mar and 2007-08 (Apr-Mar) earnings, dealers
said.
The company is expected to report a 7% on year fall in net profit
at
5.36 bln rupees for Jan-Mar on higher input costs and flat volumes, a
NewsWire18
poll of eight brokerages said.
Sales is seen rising 1% in the same period to 83.66 bln rupees.
Shares of automobile companies were down today on fears the likely
hike in
fuel price may hurt demand.
Technical analysts expect the stock to find support at 597 rupees.
"If Tata Motors closes below 595 rupees it would remain negative
in the
short-term," said an analyst.
On NSE, 284,573 Tata Motors shares have been traded so far today.
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