Life Insurance Corporation of India (LIC), the country's biggest insurer, said it did not participate in Tata Motors' Rs 4,145-crore rights issue as the shares continued to trade below the offer price till the last day of the subscription today. The move resulted in the issue devolving on the promoters and the underwriter, JM Financial.
The company on Tuesday challenged before the court the RTI commissioner's competence to deal with the matter, with its counsel submitting before Justice Dipankar Dutta that the Right to Information Act was not applicable in case of an agreement involving industrial secrets. Justice Dutta has scheduled the matter for hearing on Friday.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
Leading automobile company Tata Motors on Friday said it has become the first Indian company producing 1 lakh (100,000) commercial vehicles in a financial year.
Tata Motors is likely to team up with its Italian partner Fiat to develop products jointly.
Many say Tata Motors has perhaps paid the price for being too ambitious.
Car-maker sends another strongly-worded letter on vendor park.
Tata Motors was allotted 1,000 acres of prime agriculture land at the Pantnagar industrial estate in the hope that the company would set up its dream Nano project in Uttarakhand. It has now agreed in principle to allot 50 acres more to the auto giant. Tata Motors is seeking 100 acres for housing purposes. Meanwhile, suspense continues over the Nano project being shifted to the hill state.
JLR's product pipeline and margin uptick will ensure good revenue and profit growth.
Even as Tata Motors is racing against time to get its new Singur plant near Kolkata ready for commercial roll-out of the Nano by October 2008, the company may need an out-of-the-box solution to overcome some delays in the integrated plant and component park structure proposed for the vehicle.
Tata Motors is banking on revotron engine to tap the petrol passenger car segment with three modes of drive.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
Sales of commercial vehicles declined 24.51 per cent in June to 31,384 units from 41,577 units a year ago.
Having introduced common rail direct injection engine in its Indigo XL sedan, Tata Motors has decided to introduce the technology in all diesel models of its Indigo and Indica cars within next 4 to 6 months.
Cyrus Mistry said more focus was needed for improvement in key areas such as vehicle technology.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
If you thought the Tata Nexon EV was it, wait till you drive the new Tata Nexon EV Max with more battery power, says Rajesh Karkera. Photographs and video: Hitesh Harisinghani/Rediff.com.
Tata Motors-owned Jaguar Land Rover reported 25 per cent increase in its global sales in November this year at 37,403 units.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Don't be surprised if you see cars from the two manufacturer in a foreign land. The carmakers are supplying their vehicle in over 11 countries.
The world's cheapest car, the Nano, may still roll out from Singur with Tata Motors today expressing hope that the West Bengal government's new rehabilitation package will evoke a positive response from unwilling land-losers who had refused compensation.
With swanky showrooms and VR-enabled sales platforms Maruti Suzuki, Tata Motors, and Skoda bet on shine and gloss,and place their faith in experiential branding.
The company will market this new range in petrol engines under the Revotron brand.
Tata Motors, India's biggest auto maker, on Monday said it had successfully tested vehicles running on compressed air on two of its products.
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
Slym doesn't face such an epic challenge - after all, his company is profitable, has a trustworthy brand, deep pockets and a vast distribution.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
"The toughest part was continuing to believe that we could do it," Tata told journalists covering the Auto Expo in New Delhi, where he unveiled the lowest-priced car in the world. He added that "a promise is a promise", hinting at the ability of his company to deliver even in the face of brutal scepticism.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to 53.98 billion rupees ($882.31 million) compared with Rs 17.68 billion a year ago.
Tata Motors revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
The company had sold 51,160 vehicles in the same month last year.
Dealers said the discounts this March are higher than the same month in the previous year.
Tata Motors said on Thursday production at its car plant in Pune may get affected following a fire at its paint shop. There was no casualty.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
The incentive package being offered by the government of West Bengal for the Tata Motors for setting up the small car project in Singur would take into account the concessions offered by the Uttaranchal government for the project in that state.
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing of products at the Ranjangaon facility near Pune.
It was late last year when Tata Motors announced that it would set up the first plant for producing the Rs 1-lakh car at Gujarat's Sanand rather than Karnataka's Dharwad, among other places.
