Life Insurance Corporation of India and DaimlerChrysler, one of the oldest partners of Tata Motors, may refrain from participating in the ongoing Rs 4,145-crore (Rs 41.45 billion) rights issue that is closing on October 20, investment banking sources said. The move comes after Life Insurance Corporation of India expressed its wariness in putting in its bid.
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
Tata Motors, India's third-biggest carmaker, on Wednesday said it would invest a little over Rs 800 crore (Rs 8 billion) this fiscal for capacity expansion, product development and marketing.
The auto major had posted a profit of Rs 3,945.47 crore (Rs 39.45 billion) in the same period a year earlier.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
The company is still short of over Rs 4500 crore (Rs 45 billion) to refinance the debt which is due before June 2 this year. The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
Tata Motors will soon submit a detailed report on the upcoming manufacturing plant in Tamil Nadu's Ranipet district and a decision, on whether the facility will churn out passenger or commercial vehicles, will be taken by the company on the basis of market trends, state's industries minister TRB Rajaa said on Thursday. "They are keeping the options open, and market trends will determine it (the type of vehicles the plant will make). "They will quickly come up with a detailed report on that," Rajaa said.
Jaguar Land Rover has reached an agreement with Tata Motors to be an exclusive importer of these premium saloon cars and utility vehicles.
The B C Khanduri government seems to be in no hurry to provide concession on lease rent as well as some more land to Tata Motors at the Pantnagar industrial estate.
Tata Motors expressed satisfaction over the progress of land acquisition for its proposed small car plant at Singur and plan to launch the vehicle in 2008 as scheduled.
Investors' wealth tumbled by Rs 9 lakh crore on Friday, in tandem with a sharp decline in the domestic equity market, where the benchmark Sensex plunged 1,414 points following a bearish trend in global equities. Fresh tariff threats that ignited global trade war fears and relentless foreign fund outflows dented investor sentiment, analysts said.
On another occasion, he recalled, as part of the SPG, he was tasked with the security of the then prime minister Manmohan Singh and assigned the responsibility of escorting Tata from Taj Mansingh Hotel in New Delhi.
There were no casualties; a part of the wall was damaged.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
Auto major Tata Motors on Thursday reported a 50.65 per cent fall in its net profit at Rs 1,001.26 crore (Rs 10.01 billion) for the 2008-09 fiscal.
Trinamool Congress workers, led by party president Subrata Bakshi, on Tuesday stormed into the prohibitory order-bound site of Tata Motors' small car project in Singur cutting about 10 feet of barbed fencing, police said.
Trump's tariff threats spooks markets; Sensex down 106 points
Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India. Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37.
Tata Motors on Tuesday reported a massive 102-fold jump in its consolidated net profit for the quarter ended September 30 at Rs 2,222.99 crore (Rs 22.23 billion) on account of robust demand across categories.
The company will bring a couple of new models every year and admitted that lack of new products has hurt the company.
Tata Motors on Thursday launched its new multi-purpose diesel vehicle 'Venture' in Rajathan.
Sen said that as per the lease agreement, concluded recently with the company, it would have to pay a lease rent of Rs 1 crore per year for the first five years to the state.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
Leading automobile manufacturer Tata Motors on Monday announced the launch of mini truck 'Tata Ace' in Sri Lanka.
Tata Motors shares fall 2%; m-cap erodes by Rs 5,521 cr.
In wake of the coronavirus pandemic, US auto major Ford has asked its 10,000 employees in India, except those in business-critical roles, to work from home, a step which has also been taken up by Swedish luxury car maker Volvo. A Ford India spokesperson said, in recent days, the company has concluded that the issue of coronavirus has taken on a different dimension.
There are many things we can do with the Nano. It is a canvas, says Managing Director Karl Slym.
Its Board of Directors has recommended a dividend of Rs 2 per ordinary share.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
Rising investment is eating into the luxury carmaker's cash pile.
Tata Motors, India's leading manufacturer of heavy and light automobiles, is planning to launch 20 new variants in coming two years
Homegrown auto major Tata Motors on Monday reported an almost three-fold increase in consolidated net profit to Rs 4,804.80 crore (Rs 48.04 billion), driven by its British arm Jaguar Land Rover.
With a m-cap of Rs 1,28,100 crore, Tata Motors now features at ninth rank in the list and replaces HDFC in this prestigious club.
The country's largest auto maker, Tata Motors, is planning to invest about Rs 8,000 crore (Rs 80 billion) during the next three-four years as capital expenditure and product development.The money is likely to be spent on launching new models and scaling up its operations.
MSI said compact sedan Dzire Tour stood out as sales rose by over two-fold during the month under review to 3,370 units as against 1,299 in July 2014.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
