Shares of Tata Motors Passenger Vehicles (TMPV) declined over 3 per cent on Tuesday after its luxury arm Jaguar Land Rover reported a sharp decline in wholesale and retail volumes for the third quarter of FY26, largely due to the impact of a previously disclosed cyber incident and planned product transitions.

The stock declined nearly 2 per cent to 366.25 on the NSE at 9.59 am, trading among losers of Nifty 50, hitting a early low of 360 against the previous close of 373.55.

Jaguar Land Rover stated that wholesales for the quarter ended December 31, 2025 stood at 59,200 units, marking a steep y-o-y decline of 43.3 per cent and a sequential drop of 10.6 per cent. Retail sales during the quarter were reported at 79,600 units, down 25.1 per cent from the same period last year and 6.7 per cent lower compared to the previous quarter.

According to JLR, production was significantly disrupted following a cyber incident, with manufacturing operations returning to normal levels only by mid-November. The company said that beyond the initial production stoppage, additional time was required to distribute vehicles globally after operations resumed, which weighed on both wholesale and retail volumes during the quarter.

It highlighted that the planned wind-down of legacy Jaguar models ahead of the launch of a new Jaguar portfolio continued to affect volumes, as anticipated. Incremental tariffs on US exports further added pressure, particularly in North America, which saw one of the sharpest year-on-year declines in wholesale volumes.

JLR said that wholesale volumes declined across all key geographies in the quarter, with North America, Europe and China seeing substantial contractions compared to last year. Despite the overall decline, the model mix remained skewed towards higher-margin vehicles, with Range Rover, Range Rover Sport and Defender accounting for 74.3 percent of total wholesale volumes.

For the nine months ended December 2025, wholesale volumes stood at 212,600 units, down 26.6 percent year on year, while retail volumes declined 19.1 percent to 259,400 units.

The weak quarterly performance at JLR is likely to influence near-term sentiment around Tata Motors’ passenger vehicle business, given the luxury arm’s significant contribution to consolidated revenues and profitability.

JLR said it will report its detailed Q3FY26 financial results in February 2026.

Published on January 6, 2026

Crude oil futures traded lower on Tuesday morning after reports said the US administration plans to meet the oil companies later this week to discuss boosting oil production in Venezuela.

At 9.59 am on Tuesday, March Brent oil futures were at $61.57, down by 0.31 per cent, and February crude oil futures on WTI (West Texas Intermediate) were at $58.09, down by 0.39 per cent. January crude oil futures were trading at ₹5,245 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹5,270, down by 0.47 per cent, and February futures were trading at ₹5,255 against the previous close of ₹5,277, down by 0.42 per cent.

A Reuters report said that the US administration is planning to meet with executives from US oil companies later this week to discuss boosting Venezuelan oil production after US forces ousted its leader, Nicolas Maduro.

Quoting White House spokesperson Taylor Rogers, the report said: “All of our oil companies are ready and willing to make big investments in Venezuela that will rebuild their oil infrastructure, which was destroyed by the illegitimate Maduro regime.”

Citing four oil industry executives familiar with the matter, the report said the biggest US oil companies such as Exxon Mobil, ConocoPhillips, and Chevron have not yet had any conversations with the administration about Maduro’s ouster, contradicting Trump’s statements over the weekend that he had already held meetings with all the US oil companies, both before and since Maduro was seized.

Quoting one of the sources, the report said: “Nobody in those three companies has had conversations with the White House about operating in Venezuela, pre-removal or post-removal to this point.”

In their Commodities Feed for Tuesday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said oil prices had a choppy session on Monday with the market trying to digest the impact of the arrest of Venezuelan President Nicolas Maduro by the US. ICE Brent fell below $60 a barrel at one point during the trading session but settled 1.66 per cent higher on the day at $61.76 a barrel.

“Developments over the weekend pose further downside risk to Venezuelan oil supply in the short term, and leave the potential for upside in the longer term. This would require significant investment in the domestic energy sector, which foreign companies may be reluctant to undertake unless there is a more attractive investment environment or some form of guarantee for investors,” they said.

January aluminium futures were trading at ₹311.10 on MCX during the initial hour of trading on Tuesday against the previous close of ₹306.40, up by 1.53 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), Janaury guargum contracts were trading at ₹11553 in the initial hour of trading on Tuesday against the previous close of ₹11487, up by 0.57 per cent.

Janaury dhaniya futures were trading at ₹9,652 on NCDEX in the initial hour of trading on Tuesday against the previous close of ₹9,786, down by 1.37 per cent.

Published on January 6, 2026