Tata Motors PV share price crashes 10% after JLR investor day update: What's behind the decline?

Tata Motors PV shares crashed 10% in afternoon deals on June 17, hitting a day's low of ₹355 on BSE, after JLR's investor day update revealed weak FY26 numbers and raised execution concerns. JLR posted FY26 revenue of £22.9 billion with just 0.7% EBIT margin and negative free cash flow of about £2.2 billion, but guided for FY27 revenue of £26 billion (13% growth) and EBIT margins improving to 4%, alongside £1.7 billion in cost savings. BofA Securities assigned an underperform rating with a price target of ₹335, citing concerns around tariffs, China weakness, product transition costs, and launch spending hitting together.