Tata Motors shares in focus after strong festive sales but JLR cyberattack hit also looms

Shares of Tata Motors, the parent company of Jaguar Land Rover (JLR), are expected to open lower on Thursday, October 23, after reports suggested that JLR could take a £540 million (₹6,300 crore) hit from the recent cyberattack.

According to reports, JLR expects to fully resume production by January 2026, with the timeline based on expert assessments. However, the company is likely to face additional complexities as it works toward restoring full operations.

The cyber incident has emerged as a drag on JLR's performance and is expected to weigh on output in the current quarter.

While UK-US tariff relief announced in late September offered some support, analysts said that JLR still faces multiple headwinds, including fading model cycles, higher incentives in the US, and rising competition.

Meanwhile, on the domestic front, Tata Motors Passenger Vehicles Ltd. reported a strong festive season, with over 1 lakh vehicles delivered between Navratri and Diwali, marking a 33% year-on-year growth.

The growth was led by the company's SUV lineup, with electric vehicles also showing robust momentum.

"Our SUVs continue to drive this momentum, with the Nexon registering over 38,000 retails, up 73% year-on-year, while the Punch clocked 32,000 units, growing 29%," said Shailesh Chandra, Managing Director and CEO of Tata Motors Passenger Vehicles.

Chandra added that the company's EV portfolio also performed strongly, with over 10,000 EVs retailed during the festive period, a 37% year-on-year increase.

Despite near-term JLR concerns, Tata Motors remains among CLSA's top picks in the auto OEM space, backed by its strong domestic portfolio and improving demand trends.

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