Tata Motors Rating: Hold; Subdued performance across the business

The outlook for India business is also hazy both on margin and volumes. Tata Motors (TML) reported a 35% underperformance in Q1FY20 consolidated Ebitda (down 41% y-o-y) due to lumpy cost at JLR and fall-off in India volumes. On JLR, management reiterated the 3–4% Ebit margin guidance for FY20 (despite a weak Q1) as: (i) the worst is behind in China; and (ii) marketing (VME) and warranty cost would reduce going ahead. The India business suffered from a sharper-than-expected downshift in demand, which management expects to improve ahead. However, demand outlook…

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Unravel 2 Not Coming to Nintendo Switch, May Have Co-Op Mode Hints ESRB Rating

Quirky platformer Unravel was revealed at E3 2015 and released in 2016. Barely two years since its debut, Unravel 2 is on the way. While EA had confirmed it was working with Unravel developer Coldwood, little has been said since. Now, thanks to an ESRB rating for Unravel 2 spotted by those on popular gaming forum ResetEra, we know what to expect. Namely, no Unravel 2 for Nintendo Switch (as the console isn’t listed as one of the platforms for launch) and possible cooperative play thanks to the game’s description. Expect Unravel 2 to make an…

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