One of the first products, under Tata Motors, may hit market next year when a new small Jaguar is unveiled. In addition, free cash flow (cash from operations after capital spending) will be negative in the quarter ended December 31; free cash flow will be positive in the first nine months of the fiscal year to date, JLR further added. The two brands continue to target funding most of its capital spending out of operating cash flow. Despite the warning analysts, however, are recommending a buy on Tata Motors stock stating that the dip in margins is a one quarter effect and that margins will see an improvement in the final quarter. "Currency was slightly against JLR in 3Q (third quarter) while market mix was fairly stable. This is why EBITDA margins will be slightly down in 3Q Vs 2Q (second quarter).