Noting that Indian firms face a high risk of mark-to-market losses due to a volatile forex market, a brokerage firm has named telecom major Reliance Communications and auto giant Tata Motors among five blue-chip companies estimated to have suffered the most during 2008-09.
Both the companies have in the past worked together on several projects.
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.
A bench of justices H L Dattu and C K Prasad, however, said that the Calcutta high court's interim order which had stated that the state need not part with the land for two months to allow it file its appeal, would continue.
Apart from SBI, the consortium will include leading entities like Citibank, Standard Chartered, BNP Paribas, JP Morgan, Tokyo Mitsubishi UFJ and Mizuho Financial Group, a source closely connected to the development told PTI. The country's largest lender is also in talks with two-three public sector banks to be a part of the consortium, the source said. The company reported a loss of $12.7 billion for the fiscal ended December 30, 2006.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Favourable response to launches, recovery in CVs will aid growth.
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.
The funds would be utilised to meet capital and product development expenses in projects involving the growth of both its commercial vehicle and passenger car business units apart from other unspecified corporate purposes.
It's a fourth consecutive monthly slide.
The company will offer a total of up to 15,06,44,759 ordinary shares
Tata Motors reported a 25.47 per cent decline in its net profit.
The plant at Magwe, near Yangon, will be funded by a line of credit from the Indian government and is expected to be operational by the last quarter of 2010-11, Tata Motors said.
In the two-wheeler segment, Bajaj Auto reported 31 per cent jump in total sales at 357,883 units in February against 273,513 units in the same month last year.
The product is currently undergoing testing at the Tata Motors European Technical Centre, the company's research and development outfit in UK, and at the Engineering Research Centre at Pune.
Violence erupted at the Tata Motors plant site in Singur on Sunday when police fired rubber bullets and teargas at Krishi Jami Rakhsha Committee activists when they hurled bombs and bricks in a bid to enter the area.
After witnessing a historic launch, the Nano could prove to be a flagship brand for Tata Motors' fortunes.
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.
Appearing for West Bengal government's industries department, senior counsel Kalyan Banerjee claimed before the division bench that it did not have jurisdiction to hear the case.
Under the passenger car division, the company sells small car Nano, hatchback Indica series and Indigo family of sedans.
Tata Motors, India's largest auto maker, will introduce its small car Nano--considered the world's cheapest--in Nigeria within next 18 months, ahead of its planned launch in Europe.
Tata Motors said it may invest about Rs 600 crore (Rs 6 billion) to develop Futuristic Infantry Combat Vehicles (FICV) and set up a manufacturing plant for rolling out FICVs for the Indian Army.
A price war started by German car makers in China may eat into JLR margins and volumes.
The largest offered by the Uttaranchal government for the project included the excise and income tax holidays.
The bench accepted the plea of Tata's counsel to file the petition later in the day.
Tata Motors, the country's largest automobile company, may tap its vehicle loans to raise funds for working capital and refinancing of loans for Jaguar and Land Rover acquisitions, investors and analysts said.
Tata Motors on Thursday said it has signed a memorandum of understanding with Italy's Fiat.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
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.
Tata Motors is unlikely to scale down its plans and go back to Singur for a smaller plant.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
Trump's tariff threats spooks markets; Sensex down 106 points
The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors. UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.
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.
Mega Corporation, a Delhi-based radio-call car rental company, on Monday said it has placed an order for 1,000 Indigo Marina cars with Tata Motors to expand its fleet in Delhi, Chandigarh and Mumbai.
The Indian car market was on a record nine months decline till July and sales picked up only in August and September.
