JLR continues to deliver strong margins but volume growth is decelerating as luxury demand softens, particularly in China. India PV business has lost EV leadership to Mahindra. Truck business steady. The pending demerger of CV and PV businesses will unlock value but execution is slow. Wait for clearer JLR trajectory.
Thesis reviewed May 29, 2026
Tata Motors Ltd is headquartered in India, which is currently showing moderate signals.
🇮🇳India52AVOIDView India risk detail →🛍Consumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| DIS | The Walt Disney Company | 27 | +12% | ↑2% | EARLY |
| COST | Costco Wholesale Corporation | 27 | +9% | ↑2% | NEUTRAL |
| MAR | Marriott International Inc. | 27 | +9% | ↑2% | EARLY |
| ROST | Ross Stores Inc. | 27 | +8% | ↑2% | EARLY |
| HD | The Home Depot Inc. | 27 | +13% | ↑2% | EARLY |
| LULU | Lululemon Athletica Inc. | 27 | +6% | ↑2% | NEUTRAL |
| PM | Philip Morris International Inc. | 27 | +15% | ↑2% | EARLY |
Investors who hold TTM may also have indirect exposure through these country funds.
JLR Q3 wholesales -7% YoY; China demand weakness continues
JLR EBIT margin 9.4%, ahead of guidance but slowing momentum
India EV share drops to 28% as Mahindra/MG/Hyundai launch competitors