However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
The company has raised the rates of its utility vehicles Sumo and Grande MK II by Rs 7,800-Rs 10,300.
Tata Motors will launch a diesel-powered version of its ultra-cheap Nano by the end of March 2014, its managing director said, hoping to kick-start demand for the model after years of disappointing sales.
The land taken by Tata Motors at Singur for the erstwhile Nano car factory, and by the many companies who invested there to be vendors to the project, isn't set to change hands anytime soon.Tata and the vendors both say they plan to hold on to the lease titles, even as Trinamool Congress chief and Union railway minister Mamata Banerjee and the West Bengal government continue with their political posturing over a plan for a rail coach factory at the location.
Post the transaction, Tata Motors will own 40 per cent stake in Telcon, while Hitachi will have 60 per cent, the company said.
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 domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
Deep in Tata Motors' largest factory, engineers don 3D glasses to play with car designs and prototypes projected from a 10-metre wide computer screen. Their quest? The automaker's next blockbuster car model.
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.
The curious case is of Honda, which has moved up the pecking order while actually losing market share!
If the UK government's help does not come soon, Indian owner Tata Motors will have to cut down its investment plans for Jaguar Land Rover with possible job losses and plant closures, a media report said.
The company, which on Wednesday launched its compact sedan Zest in the NCR, priced between Rs 464,000 and Rs 699,000 (ex-showroom Delhi), is also working to upgrade its sales and service network.
Chinese blast has Tata Motors reporting Rs 430 cr net loss.
Continued adverse global automotive market conditions have resulted in a overall reduction in Jaguar Land Rover volumes during the quarter.
Tata Motors on Thursday reported a 42.9 per cent rise in its sales during the fiscal 2003-04 at 3,14,256 vehicles, including exports, as against 2,19,865 units sold in the previous year.
The top 100 tax defaulters owe the exchequer a whopping Rs 1.41 lakh crore.
The country's largest automobile maker's total income from operations, however, fell 7.56 per cent to Rs 6,404.63 crore (Rs 64.04 billion) in the first quarter, the company said in a statement. While the passenger vehicle segment grew by 1.13 per cent at 72,216 units, but the sales of commercial vehicles fell by 4.85 per cent at 49,904 units in Q1 of this fiscal.
The workers, however, said there was no plan to join back as of now.
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
Tata Motors, India's third-biggest carmaker, on Wednesday said it would invest a little over Rs 800 crore (Rs 8 billion) this fiscal for capacity expansion, product development and marketing.
Life Insurance Corporation of India and DaimlerChrysler, one of the oldest partners of Tata Motors, may refrain from participating in the ongoing Rs 4,145-crore (Rs 41.45 billion) rights issue that is closing on October 20, investment banking sources said. The move comes after Life Insurance Corporation of India expressed its wariness in putting in its bid.
The auto major had posted a profit of Rs 3,945.47 crore (Rs 39.45 billion) in the same period a year earlier.
Tata Steel and Tata Motors dropped over 10 per cent each. Larsen & Toubro, HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Tata Consultancy Services, Reliance Industries and Mahindra & Mahindra were the other big laggards.
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.
From the Sensex pack, Bajaj Finserv, Bajaj Finance, Sun Pharma, Zomato, Tata Steel and Nestle were the biggest gainers. UltraTech Cement, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Tech Mahindra and State Bank of India were among the major laggards.
The B C Khanduri government seems to be in no hurry to provide concession on lease rent as well as some more land to Tata Motors at the Pantnagar industrial estate.
Jaguar Land Rover has reached an agreement with Tata Motors to be an exclusive importer of these premium saloon cars and utility vehicles.
Tata Motors expressed satisfaction over the progress of land acquisition for its proposed small car plant at Singur and plan to launch the vehicle in 2008 as scheduled.
There were no casualties; a part of the wall was damaged.
Trinamool Congress workers, led by party president Subrata Bakshi, on Tuesday stormed into the prohibitory order-bound site of Tata Motors' small car project in Singur cutting about 10 feet of barbed fencing, police said.
Auto major Tata Motors on Thursday reported a 50.65 per cent fall in its net profit at Rs 1,001.26 crore (Rs 10.01 billion) for the 2008-09 fiscal.
From the 30 blue-chip pack, Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank and Infosys were among the biggest laggards. Zomato, Tech Mahindra, HCL Tech and IndusInd Bank were among the gainers.
Tata Motors on Tuesday reported a massive 102-fold jump in its consolidated net profit for the quarter ended September 30 at Rs 2,222.99 crore (Rs 22.23 billion) on account of robust demand across categories.
Sen said that as per the lease agreement, concluded recently with the company, it would have to pay a lease rent of Rs 1 crore per year for the first five years to the state.
Tata Motors on Thursday launched its new multi-purpose diesel vehicle 'Venture' in Rajathan.
While the electric version will open for bookings starting August 12, the internal combustion engine (ICE) counterparts will make their debut after September 2, says Rajesh Karkera/Rediff.com.
The company will bring a couple of new models every year and admitted that lack of new products has hurt the company.
The Slovak Republic's President, Peter Pellegrini, has expressed interest in adopting a tree-planting initiative similar to India's "Ek Ped Maa Ke Naam," launched by Prime Minister Narendra Modi. The inspiration came during a meeting with Indian President Droupadi Murmu, who was on a two-day state visit to Slovakia. During a tree-planting ceremony in Nitra, Murmu highlighted Modi's initiative to plant trees in the name of mothers. Pellegrini was impressed and suggested that Slovakia could consider a similar program. The initiative, launched on World Environment Day last year, encourages people to plant a tree in their mother's name as a symbolic gesture of love and respect.
