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.
The new coalition government headed by prime minister David Cameron is determined to have 'very good relations' with India's Tata Group, owners of Jaguar Land Rover and Corus, British business secretary Vince Cable said on Thursday.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
The company has also been exploring the possibility of opening a factory in Mexico.
RatanTata is the only Indian among five foreigners to be awarded Britian's civilian honour this year.
UK-based workers of JLR rejected a pay hike offer, saying that it falls short of their expectations, giving rise to a possibility of strike.
The plant will initially assemble JLR's sport-utility vehicle Freelander 2 from completely knocked down kits shipped from the Halewood manufacturing unit in Liverpool, UK.
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.
India's Tata Group owned Jaguar Land Rover has scrapped plans to close one of its UK plants.
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.
Rising investment is eating into the luxury carmaker's cash pile.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
Coventry-based Nick Seale of the Warwick Manufacturing Group believes that the takeover will also be of global and historic significance. Seale said: "When the history of the motor industry is written, they will look back on this event as one of the key turning points.
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
The 15-member Board of BFA included former Japanese prime minister Yasuo Fukuda, former Malaysian prime minister Abdullah Ahmad Badwai, former Singapore prime minister Goh Chok Tong and former prime minister of France Jean-Pierre Raffarin besides former US Treasury Secretary Henry Paulson.
It said total passenger vehicles sales were 45,380 units, in January 2010, a growth of 76 per cent from the corresponding month last year.
The initial tests will involve vehicle-to-vehicle and vehicle-to-infrastructure communications technologies that will allow cars to "talk" to each other and roadside signs, overhead gantries and traffic lights
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.
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.
Ratan Tata was the first one to realise that Indian companies had become a prisoner to tradition and needed to radically innovate.
RIL is also more profitable than Tata Motors.
A financial turnaround in Tata Steel and Tata Motors has come as a shot in the arm for Chandra.
At Rs 470,000 for the base petrol variant, Tigor is now the cheapest compact sedan in the country
Tata Zica was designed by an international team resulting in a more modern look.
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.
Consolidated net sales during the quarter this year increased by 8.03 per cent.
'The idea is to align the HR policies and work culture with changing times'.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
The group, however, measured the economic value of just 43 creative ideas out of 1,700 innovations that took place within the Group last year.
Over the past two years, Tata has invested in over 20 start-ups
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 the domestic market, the Tata Group has lost ground in the passenger car business.
Vision 2025 to focus on four clusters; aim is to join the global club of top 25 companies.
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.
Tata Motors reported a 25.47 per cent decline in its net profit.
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.
John Elliott, the author of Implosion: India's Tryst with Reality, on his Riding the Elephant blog, says the sacking of Cyrus Mistry as chairman of Tata and Sons was in line with Ratan Tata's personal style of dealing with executives
Cyrus Mistry undertook quite a few significant initiatives at the Tata Group in the past two years.
Hyderabad will host India's first ever ePrix on February 11.
Many say Tata Motors has perhaps paid the price for being too ambitious.
