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.
The company has raised the amount to be raised through qualified institutional placement due to the good response to the offer, Tata Motors said in a filing to the Bombay Stock Exchange.
Tata Motors on Friday said it will hike the prices of its passenger vehicles, excluding the Nano, by up to Rs 36,000 from April 1, to offset rising input costs.
Tata Motors, India's biggest bus and truck maker, said it aimed over 10 per cent sales growth this year on the back of rising demand for both light and heavy commercial vehicles.
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.
Tata Motors Managing Director Karl Slym tweeted that it's a backward step.
The country's largest auto company reported a total sales of 75,775 units across its various international operations, which include Tata Motors, Tata Daewoo and the Hispano Carrocera range of commercial vehicles, Tata passenger vehicles and the British marquee brands Jaguar Land Rover.
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.
From the 30 Sensex pack, State Bank of India jumped 5 per cent, followed by ICICI Bank, Bajaj Finserv, NTPC, Adani Ports, Bajaj Finance and Larsen & Toubro. In contrast, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Mahindra & Mahindra were among the laggards.
Tata Motors on Tuesday said it will increase prices of its commercial vehicles by up to two per cent on account of the new emission norms that will be implemented from April.
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
'The path beyond diesel is not going to be clear. It is really going to be dependent on applications.'
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).
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
The country's largest manufacturer of buses, Tata Motors, will roll out hybrid buses for the domestic market in the next few years, said Ravi Pisharody, its president (commercial vehicles).
The broader NSE Nifty too ended 98.30 points, or 0.89 per cent, down at 10,918.70.
Tata Motors on Monday said its global sales increased by 36 per cent in July to 90,646 units on robust demand for both commercial and passenger vehicles.
It is keen on electric cars as battery costs go down
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
Tata Motors has hiked the price of its premium small car 'Indica' by an average of 1.9 per cent with immediate effect.
The Manza is basically the sedan version of the indigenous hatchback, Indica Vista.
From the 30-share Sensex pack, Tata Motors, Tech Mahindra, UltraTech Cement, JSW Steel, Sun Pharma, Asian Paints, IndusInd Bank and ICICI Bank were the major losers. State Bank of India emerged as the only gainer from the pack.
Tata Motors is negotiating with the Jharkhand government to acquire 300 acres of land to set up a vendor park on the lines of the one in Pantnagar (Uttar Pradesh), a senior company official said.
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.
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 bellwether scrip was the top gainer on both the key indices - Sensex and Nifty.
Tata Motors Ltd sold and exported 26,253 vehicles during December 2003, a growth of 67.3 per cent over 15,695 vehicles sold during the same month a year ago.
After creating a flutter with the world's cheapest car, the Nano, Tata Motors will contribute structural components to one of Boeing's most ambitious projects, the 787 Dreamliner.
Shares of Tata Motors, which surged over eight per cent in morning trade, shed gains to settle up three per cent on the Bombay Stock Exchange and National Stock Exchange as the company launched the world's cheapest car 'Nano'.
From the 30 blue-chip pack, Mahindra & Mahindra, IndusInd Bank, Bajaj Finance, Tata Motors, Bajaj Finserv, Nestle and ICICI Bank were the biggest gainers. State Bank of India, Tata Steel, Adani Ports, Zomato, UltraTech Cement and HCL Tech were among the laggards.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
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.
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.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
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 sharp fall in commercial vehicle (CV) sales has forced automobile giant Tata Motors to again shut its Pune plant for six days this month. The CV plant will be out of action from December 5 to 7 and again from December 26 to 28.
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