Tata Motors undertakes price hike in PV segment from July 9TATAMOTORS - 427 Change: -1.65 (-0.38 %)
News: As per media reports, Tata Motors (TML) informed exchanges about price hike to the tune of 0.55% to be taken in PV space from July 9, 2022 primarily to mitigate rising input cost.
Views: Following the earlier hike announced in CV space few days back now Tata Motors announce price hike in PV space and would be the second since January 2022. TML reported 270 bps QoQ margin expansion in PV business at 6.9% primarily indicating large part of raw material costs already passed onto customers with current price to further support EBITDA margins in the near term. Moreover, with cooling off in domestic steel prices & aluminum from their peak in june, the sector is in a sweet spot reaping the gains of lower RM costs in times to come.