Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10th 2008.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
History will be created in Mumbai on Monday evening when Tata Motors launches the world's least expensive car, Nano -- a car that can redefine personal transportation in modern India.
Though most people expected Tata Motors to select either Andhra Pradesh or Karnataka for its Nano project, it was clear that Gujarat Chief Minister Narendra Modi had done the impossible and coming from nowhere bagged the prestigious project.
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
Companies have also managed to find talent created by frequent exits.
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Ratan Tata, chief of Tata Group, on Friday said the ambitious Rs 100,000 car will be manufactured from three-four places, including West Bengal and Uttaranchal.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
GE Money India said on Monday it is talking to big retailers including Bharti-Wal-Mart and Reliance for offering credit programmes such as the private label credit card it has provided to Tata Group.
Responding to a question on whether Tata-owned JLR was in talks with the UK government for a bailout package, Mandelson said it was too early to judge whether the state would be willing to help Jaguar Land Rover, which employs around 15,000 workers.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
First time in 13 years the company has declined payment of dividend.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Nano remains a cautionary tale of misplaced ambitions and a drag on profit.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
M&M was the top gainer in the Sensex pack, surging 3.37 per cent, followed by Sun Pharma 2.53 per cent, Asian Paints 1.88 per cent, ITC 1.66 per cent, HDFC Bank 1.58 per cent and Tech Mahindra 1.51 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Salboni, in West Medinipur district, is where JSW Steel in 2007 said it would be putting up a 10 million tonne a year steel factory, plus a big captive power plant.
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Hindustan Motors Limited of C K Birla group will launch multi-utility vehicle manufactured at its Uttarpara plant in the state.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
In early February, at his first Tata Chemicals board meeting as group chairman, Mistry sat quietly as directors debated efforts to find synergies between interests dotted around the globe, from Wyoming to Gabon.
He is focussing on tightening the belt of the conglomerate left bloated by explosive growth under his predecessor.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Indian Hotels, Tata Steel, Tata Teleservices, Tata Motors, Tata Power need some immediate attention of the Tata Group chairman
Maruti Suzuki, Tata Motors and Hyundai stand to gain the maximum, given their large portfolio of products in the sub-4 meter segment.
The package consists of a three-year committed facility to finance Land Rover's parts and accessories' inventories and receivables in the UK and the US. This is an important element of JLR's working capital financing to cover the key Land Rover parts and accessories' inventories and receivables part of our business, which has a high cash requirement, to function properly.
Corporate giant Tatas announced on Wednesday that it would explore investment opportunities in Pakistan in areas like automobiles, hotels and software, saying a synergy between the neighbouring countries would be beneficial for the region.\n\n
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In an interview with rediff.com Kamal Mansharamani of AlmaMate advices graduates on their career growth, what it takes to be a leader and how to cope with job lay offs.
World's largest exchange, the New York Stock Exchange is wooing India's showpiece IT firm Infosys Technologies to list its shares on its trading platform.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
