New Delhi, Nov. 17 -- Shares of Tata Motors Passenger Vehicles (TMPV) crashed over 7% in early trade on Monday, November 17, despite posting a 2,110% year-on-year (YoY) surge in net profit as the performance of its luxury business, Jaguar Land Rover, weighed.

According to brokerages, while the India PV business performance is in line with expectations, JLR is facing significant challenges in its key markets, even beyond the cyber incident.

Analysts largely recommended a 'reduce' or 'sell' rating for the newly demerged TMPV stock, which houses the passenger vehicle, electric vehicle, and JLR businesses of Tata Motors.

Tata Motors Passenger Vehicles reported a staggering 2,110% year-on-year jump in profit to Rs.76,170 crore, driven large...