Tata Motors Ltd., India’s biggest automaker, posted profit that beat analyst estimates as sales at its Jaguar Land Rover unit jumped, even as executives predicted a slump for trucks and cars at home. The shares climbed.
Tata Motors Ltd., India’s biggest automaker by revenue, said Chairman Cyrus Mistry, 45, will lead the company while it seeks a permanent replacement for Managing Director Karl Slym, who fell to his death last month.
Emerging-market stocks dropped the most in almost seven months amid concern a slowdown in the Chinese economy will curb global growth. Russia’s ruble breached the upper boundary of Bank Rossii’s target corridor.