Tata Motors, India's biggest auto maker, on Monday said it had successfully tested vehicles running on compressed air on two of its products.
Cyrus Mistry said more focus was needed for improvement in key areas such as vehicle technology.
Auto major Tata Motors on Tuesday launched a new version of its small car Nano, which has dual fuel option of petrol and CNG, priced between Rs 2.40 lakh and Rs 2.65 lakh (ex-showroom, Delhi).
'The market is still very bullish. The demand is so strong that for eight models, we have no units in our factories to dispatch to dealers,' said Partho Banerjee, senior executive officer, marketing & sales, Maruti Suzuki India (MSIL).
It has turned around its domestic operations under the HorizoNext strategy
Among Sensex firms, Bajaj Finance, Sun Pharma, Trent, Mahindra & Mahindra, State Bank of India and Bajaj Finserv were the major laggards. However, Tata Motors Passenger Vehicles, Maruti, Bharat Electronics, Kotak Mahindra Bank, Adani Ports and HCL Tech were among the gainers.
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
Among Sensex firms, Mahindra & Mahindra was the biggest gainer, gaining 1.7 per cent after the October sales data. Tata Motors Passenger Vehicles (TMPV) rose by 1.69 per cent. Eternal, State Bank of India, Bharti Airtel and Kotak Mahindra Bank were also among the major gainers.
Tata Motors Managing Director Karl Slym tweeted that it's a backward step.
Consolidated net sales during the quarter this year increased by 8.03 per cent.
Tata Motors will undertake shutdown from March 27 to April 6 to carry out maintenance of equipments, particularly, in the paint shop," Debasis Ray, Head of Corporate Communications, said.
The world's cheapest car, the Nano, may still roll out from Singur with Tata Motors today expressing hope that the West Bengal government's new rehabilitation package will evoke a positive response from unwilling land-losers who had refused compensation.
Tata Motors' passenger vehicle sales stood at 229,325 units in the last financial year, registering a market share of just 8.9 per cent.
Leading automobile company Tata Motors on Friday said it has become the first Indian company producing 1 lakh (100,000) commercial vehicles in a financial year.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
Auto majors Maruti Suzuki, Tata Motors and Mahindra & Mahindra reported robust sales in September as reduced price tags owing to GST rationalisation led to record demand in the Navaratri period. The month also saw Tata Motors and Mahindra & Mahindra settling at number two and three positions, respectively in vehicle wholesales ahead of Hyundai Motor India.
Tata Motors is to invest Rs 6,000 crore (Rs 60 billion) in the next five years to increase the passenger car capacity at its Pune plant by 50 per cent and plans to raise $100 million shortly.
Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official. The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range. The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market.
Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries and Larsen & Toubro were the gainers. Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, State Bank of India, Adani Ports, Hindustan Unilever and NTPC were the laggards.
Tata Motors said on Thursday production at its car plant in Pune may get affected following a fire at its paint shop. There was no casualty.
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing of products at the Ranjangaon facility near Pune.
Tata Motors on Wednesday inaugurated the world's cheapest car, the Nano's, manufacturing facility here, nearly two years after it was forced to shift the plant out of West Bengal over a land row.
Tata Trusts chairman Noel Tata and two other powerful trustees considered close to him blocked the reappointment of late Ratan Tata's close associate and businessman Mehli Mistry as trustee, deepening the rift at the philanthropic arm that controls the holding company of Tata Group, people familiar with the matter said.
The conflict began around Diwali when a group of workers demanded pay hike.
The company is banking on investments lined up for product development and other innovations.
The incentive package being offered by the government of West Bengal for the Tata Motors for setting up the small car project in Singur would take into account the concessions offered by the Uttaranchal government for the project in that state.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
Tata Motors revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
Tata Motors posted robust results for the June quarter, defying market forecasts and registering a 58 per cent rise in net profit for the period.
Tata Motors' commercial vehicles segment, which contributes more than half of the company's stand-alone profits and is the biggest truck maker in the country, on Monday said it has seen a slight revival in demand for heavy trucks and hopes for the trend to continue in the festive period.
From the Sensex firms, State Bank of India, Bajaj Finserv, Bajaj Finance, Maruti, HCL Tech, Larsen & Toubro, Mahindra & Mahindra and Infosys were among the major winners. However, Hindustan Unilever, Eternal, Tata Motors Passenger Vehicles, and Sun Pharma were among the laggards.
The bellwether scrip was the top gainer on both the key indices - Sensex and Nifty.
Among the Sensex shares, Infosys, Tata Motors, Axis Bank, Adani Ports, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro, Tata Steel, BEL and Power Grid were among the lead gainers. Kotak Mahindra Bank, ICICI Bank, Bharti Airtel, Asian Paints, Bajaj Finserv, and Titan were the among the laggards.
Among Sensex firms, Bharti Airtel, HCL Tech, UltraTech Cement, Power Grid, HDFC Bank, Bajaj Finance, Tata Steel and ICICI Bank were among the major gainers. However, Axis Bank, Tata Motors, Trent and Infosys were among the laggards.
Top commercial vehicle maker Tata Motors has raised the prices of its medium and heavy vehicles by 2-2.5 per cent on account of increase in input costs.
Tata Motors Ltd has completed the public filing for listing the American Depository Receipts on the New York Stock Exchange.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
The vehicle is being manufactured in the company's Bhosari plant.
Foreign fund house Citigroup Global Markets Mauritius on Tuesday bought 0.97 per cent stake in Tata Motors for Rs 350.13 crore (Rs 3.50 billion) through open market transaction -- as part of the 5.34 per cent residual stake that Dailmer sold in the country's largest automaker.
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