Tata Motors (TTM) NewsBite - Vice-Chairman's Comments Fail To Assuage TTM Shareholders

Posted: Friday, July 10, 2009 11:10 AM EDT

Tata Motors (NYSE: TTM) opened at $7.54. So far today, the stock has hit a low of $7.54 and a high of $7.89. TTM is now trading at $7.58, down $0.34 (-4.29%). Over the last 52 weeks the stock has ranged from a low of $3.05 to a high of $11.00. Shares of TTM are declining this morning after company Vice-Chairman Ravi Kant said in an interview he expects the company's luxury Jaguar and Land Rover divisions will turn profitable in two years. The news does not appear to have reassured investors, who are concerned that the two brands are having a deleterious effect on TTM's earnings. Technical indicators for the stock are neutral and S&P gives TTM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TTM the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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