Equity Analyst, LightStream Research

Chacko Jacob

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<p>The turmoil in Tata Motors’ domestic business has weighed the group down in the past few years. A quick turnaround effort by CEO Guenter Butschek resulted in nothing but further four successive quarters of losses. The company’s stock is down 33% YoY and trails the Nifty Auto Index in terms of returns. Though the domestic business accounts for only 15-16% of the total group revenue, it continues to play a significant role in the automobile industry in India, leading the market for CVs (commercial vehicles). The company’s effort to become the third largest PV (passenger vehicle) manufacturer in the country seems to be paying off as its two latest launches have managed to turn heads. Despite the shortcomings, we are confident that the company will be able to find its footing. </p>

The turmoil in Tata Motors’ domestic business has weighed the group down in the past few years. A quick turnaround effort by CEO Guenter Butschek resulted in nothing but further four successive quarters of losses. The company’s stock is down 33% YoY and trails the Nifty Auto Index in terms of returns. Though the domestic business accounts for only 15-16% of the total group revenue, it continues to play a significant role in the automobile industry in India, leading the market for CVs (commercial vehicles). The company’s effort to become the third largest PV (passenger vehicle) manufacturer in the country seems to be paying off as its two latest launches have managed to turn heads. Despite the shortcomings, we are confident that the company will be able to find its footing. 

Tata Motors Limited: JLR's Strong Performance Continues to Serve as Pivot for the Group

Tata Motors Ltd

Tata Motors Limited: JLR's Strong Performance Continues to Serve as Pivot for the Group