The new business plan is designed to increase its global competitiveness, drive growth and sustain profitability and respond to the challenges of climate change, the company said.
Tata Motors on Friday reported an 84 per cent jump in its global sales at 74,707 units for December 2008, compared to the corresponding month in 2008. The company also posted 137 per cent surge in the sale of its commercial vehicles at 37,326 units in December 2009, it said in a statement. During the month under review, it sold 16,247 units of passenger vehicles, up by 53 per cent, against the same month previous year, it added.
Fraught four-month-long negotiation between Tata Motors-owned Jaguar Land Rover and the United Kingdom government over a loan guarantee ended in an anti-climax on Tuesday, with the Mumbai-headquartered automobile maker announcing that it has secured loans from commercial banks and would not need any support from the UK government.
The board of the Luxembourg-based European Investment Bank on Tuesday approved a pound 340 million (Rs 2,500 crore) loan to the Tatas-owned Jaguar Land Rover to support efforts to make low-emission cars.
Tata Motors has roped in international consultants Roland Berger Strategy Consultants (based in Munich) and KPMG to help its British car brands Jaguar-Land Rover trim costs and help manage cash flow.
Hindustan Aeronautics Ltd plans to invest more than Rs 25,000 crore (Rs 250 billion) in the next 10 years on the back of a strong order pipeline and big ticket projects on the horizon.
'The Indian government wakes up after the fact when it can do nothing, or rather lacks the will to prosecute military actions to reverse these adverse PLA-driven developments.'
In an interview published in the Sunday Times on Sunday, Ratan Tata admitted with hindsight that he might have gone too far too fast, but that nobody saw the economic recession coming.
Tata Motors, India's largest commercial vehicle maker, is in the process of raising Rs 5,000 crore through a bond issue to refinance the remaining $ 2 billion (Rs 10,000 crore) bridge loan it took to acquire Jaguar and Land Rover.
Continued adverse global automotive market conditions have resulted in a overall reduction in Jaguar Land Rover volumes during the quarter.
Jaguar and Land Rover, the UK based carmakers, are to set up dealership networks in India soon as they seek to use ties with Tata Motors, their new owner, to find new markets.
After months of negotiations, Tata Motors-owned Jaguar Land Rover is likely to get approval for a loan of pound 270 million (about Rs 2,000 crore) from the European Investment Bank on April 7, BBC reported on Saturday quoting official sources.
The two iconic brands are also developing hybrid engines for use in future models of JLR. Two British marquee had made a loss of over Rs 1,777.35 crore or Rs 17.77 billion (before interest, exceptional items and tax) in 2008-09 due to global meltdown, while the income from JLR sales stood at Rs 39,270.70 crore (Rs 392.7 billion). It had laid off over 2,200 staff.
Tata Motors has sold one Jaguar and Land Rover model a day since it launched the marque brands in India just under a month ago -- on June 28. But that's enough to satisfy the company and has, in fact, come as a surprise to many market experts.
At present, Pakistan has some edge with its fleet of F-16 jets with AMRAAM missile fitted with them, said an official.
In a statement correcting media stories that appeared on Sunday suggesting its plants would be shut for longer, a company spokersperson said, "The reality is that our annual summer shutdown begins at the end of next week (July 23) as scheduled and will last for two weeks, with the plants due to restart on August 10. This two-week break is actually a week shorter than the traditional three-week break our plants have previously had."
Indian high commissioner Shiv Shankar Mukherjee has asked the British companies, based in Birmingham and other towns in the West Midlands, to expand and avail of opportunities offered by India.
A JLR spokesperson said this offer will apply to nearly 6,000 of its 14,500 employees who are categorised as salaried employees. The rest of the workers are paid weekly. He further said 25 per cent of those to whom this offer was made have already accepted it.
JLR sees job cut if the situation does not improve.
Air Marshal N A K Browne, a veteran fighter pilot, took over the charge of Western Air Command, the sword arm of the Indian Air Force on Monday.
Tata Motors, which is announcing its results January 30, is likely to end 2008-09 with around Rs 500 crore (Rs 5 billion) less cash mainly because sales of commercial vehicles, which account for about 60 per cent of its revenues, have dropped sharply.
The defence ministry has put on hold all existing and future deals with Rolls Royce pending a CBI probe ordered into allegations of bribery and engaging middlemen in contracts worth Rs 10,000 crore for supply of aircraft engines to state-owned HAL.
In yet another major Indian takeover, Religare, a financial services company owned by prominent businessmen Malvinder and Shivinder Singh bought London's oldest stockbroker, Hichens, Harrison & Co on Friday. The deal is seen as another example of India's growing economic clout overseas. Two weeks ago, Tata Motors bought the prestigious Jaguar and Land rover models from Ford.
Top Indian businessmen are increasingly making investments abroad. They are eyeing acquisitions abroad for a number of reasons including global reach and international market penetration. But the Indian business environment is also a chief cause. Many businessmen regard Indian biz scene stifling & not open enough for free growth. The likes of Vijay Mallya and the Ruias have therefore become technically become non-resident Indians even while they run large businesses in India.
Industrial conglomerate Tata group has spent $ 133 million in advisory fees related to various buyouts in the last two years, according to data compiled by leading global financial information provider Dealogic. The group has acquired as many as 56 businesses with a total volume of $ 20.6 billion in the last two years, accounting for 82 per cent of their total merger & acquisition volume. Since the year 2002 the Tata group has made as many as 106 acquisitions valued at $ 2mn.
The India foray of the two brands, which debuted in 1922 and 1948, respectively, has been hastened by their new Indian owner, Tata Motors, which took over in 2008 from Ford Motor Company of the US. The spokesperson said Tata Motors would be the distributor of these brands in India.
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.
Considering the fact that Surya is renowned stuntman of Tamil films' Jaguar Thangam's maiden venture, which also marks his son's debut, you ought to have a pretty good idea of what the music would be like. And depressingly, you would be right. Here is music director Jerome Pushparaj's offering.
Tata Motors, India's largest commercial vehicle maker, has postponed plans for an overseas equity issue and sale of investments to repay the $3 billion bridge loan it took in June last year to acquire the Jaguar and Land Rover brands from Ford.
The auto major had posted a profit of Rs 3,945.47 crore (Rs 39.45 billion) in the same period a year earlier.
The Indian Air Force's on Friday conducted day-night demonstration of its combat and fire power in Pokhran, which was witnessed by President Pranab Mukherjee and Prime Minister Narendra Modi.
A year after the Tata group took over the two of Britain's most iconic automobile brands, Jaguar and Land Rover, it is faced with newer and bigger challenges than it would have expected when it paid $2.3 billion to Ford for the acquisitions on March 26, 2008.
Despite what the Nano can do to the country's automobile market, its ability to transform Tata Motors' financials will be limited, says Shyamal Majumdar.
A man has been arrested for trying to extinguish the Olympic torch by throwing a bucket of water over it as it passed through his farming town of Maracaju in central Brazil, an officer at the local police station said on Monday.
The UK government today approved a grant of pound 27 million to Tata Group-owned Jaguar Land Rover
Tata Motors, which bought Jaguar and Land Rover, said it will reconsider its plan to raise as much as $600 million from overseas markets due to the global credit crisis. The decision also follows a 34 per cent drop in the company's second-quarter profit owing to foreign currency losses and slowing sales.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
The ban does not speak about used luxury cars.
When launched later this year, the Volvo will lock horns with the BMW 5-series, Mercedes-Benz E-Class, Jaguar XF and the Audi A6
With the Rafale contract in limbo, the upgrade of IAF's Mirage 2000 and Jaguar fighters has become vitally important.
