Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
Tata Motors will soon submit a detailed report on the upcoming manufacturing plant in Tamil Nadu's Ranipet district and a decision, on whether the facility will churn out passenger or commercial vehicles, will be taken by the company on the basis of market trends, state's industries minister TRB Rajaa said on Thursday. "They are keeping the options open, and market trends will determine it (the type of vehicles the plant will make). "They will quickly come up with a detailed report on that," Rajaa said.
In May 2005, Tata Motors had launched the Ace, a small truck of 0.75 tonne. The company had studied the market for three-wheeler goods carriers for a while and had concluded that small transporters were ready to switch to a mini truck.
India should focus on producing cheap, efficient and small electric cars over the next five years. "This will boost energy conservation and help cut down carbon emissions," said Ravi Kant, chief executive officer, Tata Motors.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
Noting that Indian firms face a high risk of mark-to-market losses due to a volatile forex market, a brokerage firm has named telecom major Reliance Communications and auto giant Tata Motors among five blue-chip companies estimated to have suffered the most during 2008-09.
Tata Motors on Thursday said its car sales in August 2003 grew by 23.5 per cent to nearly 11,700 units over 9,482 units sold in the same month last year.
Both the companies have in the past worked together on several projects.
A bench of justices H L Dattu and C K Prasad, however, said that the Calcutta high court's interim order which had stated that the state need not part with the land for two months to allow it file its appeal, would continue.
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.
Favourable response to launches, recovery in CVs will aid growth.
It's a fourth consecutive monthly slide.
The funds would be utilised to meet capital and product development expenses in projects involving the growth of both its commercial vehicle and passenger car business units apart from other unspecified corporate purposes.
The company will offer a total of up to 15,06,44,759 ordinary shares
In the two-wheeler segment, Bajaj Auto reported 31 per cent jump in total sales at 357,883 units in February against 273,513 units in the same month last year.
Tata Motors reported a 25.47 per cent decline in its net profit.
The plant at Magwe, near Yangon, will be funded by a line of credit from the Indian government and is expected to be operational by the last quarter of 2010-11, Tata Motors said.
The product is currently undergoing testing at the Tata Motors European Technical Centre, the company's research and development outfit in UK, and at the Engineering Research Centre at Pune.
Violence erupted at the Tata Motors plant site in Singur on Sunday when police fired rubber bullets and teargas at Krishi Jami Rakhsha Committee activists when they hurled bombs and bricks in a bid to enter the area.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
After witnessing a historic launch, the Nano could prove to be a flagship brand for Tata Motors' fortunes.
Appearing for West Bengal government's industries department, senior counsel Kalyan Banerjee claimed before the division bench that it did not have jurisdiction to hear the case.
Under the passenger car division, the company sells small car Nano, hatchback Indica series and Indigo family of sedans.
Chinese electric carmaker BYD is focusing on launching vehicles in the Rs 25-45 lakh price range in India even as it continues to evaluate customer preferences and demand in more affordable segments, its Head of Electric Passenger Vehicles in India Rajeev Chauhan told Business Standard.
Tata Motors, India's largest auto maker, will introduce its small car Nano--considered the world's cheapest--in Nigeria within next 18 months, ahead of its planned launch in Europe.
Tata Motors said it may invest about Rs 600 crore (Rs 6 billion) to develop Futuristic Infantry Combat Vehicles (FICV) and set up a manufacturing plant for rolling out FICVs for the Indian Army.
A price war started by German car makers in China may eat into JLR margins and volumes.
The largest offered by the Uttaranchal government for the project included the excise and income tax holidays.
The bench accepted the plea of Tata's counsel to file the petition later in the day.
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.
Tata Motors on Thursday said it has signed a memorandum of understanding with Italy's Fiat.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
A sharp fall in the equity market made investors poorer by Rs 5.29 lakh crore on Tuesday when the BSE benchmark Sensex tumbled over 800 points. A host of negative triggers -- muted quarterly earnings, continuous foreign fund outflows and weak trends in Asian and European markets -- dragged the benchmark indices lower. The BSE benchmark gauge tumbled 820.97 points or 1.03 per cent to settle at 78,675.18.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
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