Shares of Tata Motors fell as a lot as 5.5% on Thursday, a day after the automaker claimed next-quarter main earnings that at least a few analysts claimed missed their estimates due to bigger charges.

Tata Motors posted a narrowed internet decline for the July-September quarter and mentioned its earnings right before desire, taxes, depreciation, and amortisation (EBITDA) rose 53% yr-about-yr.

Having said that, brokerage Jefferies reported the firm’s EBITDA came in 14% under its estimate, though Emkay Analysis and Motilal Oswal also explained the range skipped their estimates.

“Tata Motors’ efficiency was an all-all over miss,” Motilal Oswal analyst Jinesh Gandhi wrote in a observe. “Jaguar Land Rover (JLR) proceeds to wrestle with semiconductor shortages, which has been impacting its performance for the past five-to-six quarters.” Tata Motors inventory was final down 4.4% at 414.25 rupees and was the most significant loser on India’s benchmark Nifty 50 index, which is down .7%. [.BO]

Analysts also trimmed their earnings estimates on the corporation expressing it would deal with price pressures. Motilal Oswal was among the the most aggressive, now expecting Tata to post a loss this fiscal, compared with its previously forecast of a revenue.

Tata Motors nevertheless expects funds flow to bounce back in the second 50 percent, many thanks to healthier need for its Jaguar Land Rover vehicles and a drop in domestic metal charges.

The existing ordinary rating of 30 analysts covering the stock is “invest in” and the median value goal is 512 rupees, in accordance to data from Refinitiv.

By the last shut, Tata Motors shares experienced get rid of a tenth of their benefit, whilst the Nifty 50 index had attained all-around 4%. ($1 = 81.5830 Indian rupees)