From the Sensex pack, Eternal, Bharat Electronics Ltd, Trent, Axis Bank, State Bank of India, Bajaj Finance, Sun Pharmaceuticals, Asian Paints, Adani Ports, Hindustan Unilever, Reliance Industries, ITC, PowerGrid, Tata Motors Ltd's Commercial Vehicles business, and Bajaj Finserv were the gainers. Infosys, Tata Motors Passenger Vehicles, Tata Steel, ICICI Bank, Tech Mahindra, Titan, UltraTech Cement, Maruti Suzuki India, and Larsen & Toubro were the laggards.
Tata Motors, which now houses the company's commercial vehicle business, on Thursday reported a consolidated net loss of Rs 867 crore in the September quarter, impacted by mark-to-market losses of Rs 2,026 crore on account of investment in Tata Capital.
Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits due to US tariffs and high base effect due to gain from sale of discontinued operations. The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
Tata Motors is trading at 8.32 times 12-month forward PE, just marginally away from 8.31 times for Sesa Sterlite, currently the cheapest in the 30-member Sensex.
Karl Slym, managing director of India's Tata Motors Ltd, died after falling from a hotel room in Bangkok in what police said on Monday could be possible suicide.
Domestic sales for two big Indian automakers tumbled in August on rising fuel costs and interest rates.
Tata Motors has offered the Nano small car to consumers who wish to buy it using credit cards.
Wipro and HCL Technologies among its top picks.
Rising investment is eating into the luxury carmaker's cash pile.
Assocham is planning to write a letter to the West bengal chief minister, asking her to bring back the Tatas to regain business confidence.
Tata Motors Quarteryl profit down 56 per cent on higher input cost
S&P Global Ratings on Thursday upgraded ratings of five companies of the Tata group including Tata Steel, Tata Motors and Jaguar Land Rover (JLR) reflecting its reassessment of the ongoing influence and the potential for 'extraordinary financial support' from the parent, Tata Sons. Under the revised exercise, S&P Global said ratings on Tata Steel Ltd and its 100 per cent-owned financing subsidiary ABJA Investment Co Pte Ltd have been upgraded to 'BBB-' from 'BB' with stable outlook. Similarly, Tata Motors Ltd and its wholly-owned arm TML Holdings Pte Ltd have been upgraded to 'BB-' from 'B' ratings with stable outlook.
Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to 53.98 billion rupees ($882.31 million) compared with Rs 17.68 billion a year ago.
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).
Giving its verdict on an appeal by Tata Motors Ltd, a division bench comprising Justices Pinaki Chandra Ghosh and Mrinal Kanti Chaudhury observed that the President's assent had not been taken for the Act and as such it was void and unconstitutional.
It's a fourth consecutive monthly slide.
This is the third consecutive monthly slide.
It is easy to spot the trappings of dejection along the now broken Singur roads, after the Calcutta High Court division bench judgment termed the Singur Act, a legislation introduced by the Mamata Banerjee government to recover some land leased to Tata Motors Ltd, as "void and unconstitutional".
Tata Nano's potential was not fully exploited and the world's cheapest car needed another push to boost sales, said Tata Motors Ltd Chairman Ratan Tata.
The Tatas have received a setback in the Singur land deal.
Tata Motors Ltd has completed the public filing for listing the American Depository Receipts on the New York Stock Exchange.
The National Consumer Disputes Redressal Commission gave the order on a plea by Tata Motors challenging the verdict of Himachal Pradesh State Consumer Commission which had held the truck to be defective and had asked it to refund the cost of the vehicle or replace it.
Justice Saumitra Pal directed the government to state its opposition by an affidavit to the petition of Tata Motors and also asked Tata Motors Ltd to file a reply to that by July 12.
The development came after the Calcutta high court refused to pass an interim order on Tata Motors' plea to restrain the state government from distributing from Tuesday land acquired there earlier to set up a company car manufacturing unit.
While the Tatas had a lease over 645 acres of land, the rest was for ancillary industries and other purposes.
Sluggish corporate earnings, lacklustre global markets, FPI and slowdown concerns have played spoilsport for the markets.
BHEL officials had inspected the site in Singur earlier this month where the state government proposed to set up a 1600 MW mega power plant as a joint venture. Railway minister Mamata Banerjee had last week said the Railways would set up a rail coach factory in the site jointly with the state government or under a PPP model.
Fiat India Automobiles Ltd, a 50-50 JV between Fiat Group Automobiles and Tata Motors Ltd, has sold 10,000 units of its sedan, Linea, since its launch in January this year.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
This rating action follows the announcement by Ford Motor Company (Ford, which has a rating-B3/Stable) naming Tata Motors the preferred buyer for Ford's luxury Jaguar and Land Rover car brands.
Car-maker sends another strongly-worded letter on vendor park.
Thirty stocks from various sectors form the Sensex.
Indian Oil Corporation Ltd and Tata Motors Ltd have entered into a strategic alliance for initiating joint marketing activities including the setting up of Tata authorised service stations in select IOC retail outlets.
At home, passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.
Tatra Trucks India Ltd, the joint venture between Czech truck maker Tatra and Vectra of UK, is planning to launch its first highway transportation vehicle (for the goods segment) late next year.
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