Tata Motors Quarteryl profit down 56 per cent on higher input cost
Tata Motors on Wednesday inaugurated the world's cheapest car, the Nano's, manufacturing facility here, nearly two years after it was forced to shift the plant out of West Bengal over a land row.
Companies are ranked by total revenues.
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
Riding on the back of Indica, which crossed the sales mark of 9,000 units, Tata Motors on Friday reported a 31.3 per cent increase in its October sales at 35,283 vehicles as against 26,862 units in the same month last fiscal.
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
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.
One of the challenges on diesel engine is refinement.
Opposition to the idea of quadricycles is a story of sour grapes, says Rajiv Bajaj.
We call it Nano, they don't have to, says vice-chairman Ravi Kant
Announcing that the company had completed its fund raising for repayment of the bridge loan taken to acquire British marquee car brands Jaguar and Land Rover, Tata Motors said this was achieved by extending the final maturity of $1 billion by 18 months up to December 31, 2010.
Under the deal that gives Fusion Automotive exclusive marketing and distribution rights within the country, it will first start with a range of commercial vehicles in the fourth quarter of 2013, according to media reports.
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.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
Looking to cover lost ground in the car market, auto major Tata Motors unveiled two new models, which it plans to start selling in the second half of the year.
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.
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.
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.
Both the companies have in the past worked together on several projects.
Dealers said the discounts this March are higher than the same month in the previous year.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
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.
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.
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 has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
Favourable response to launches, recovery in CVs will aid growth.
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.
It's a fourth consecutive monthly slide.
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 company will offer a total of up to 15,06,44,759 ordinary shares
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.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
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.
Tata Motors reported a 25.47 per cent decline in its net profit.
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.
After witnessing a historic launch, the Nano could prove to be a flagship brand for Tata Motors' fortunes.
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.
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.
