Trump's tariff threats spooks markets; Sensex down 106 points
The new obsession on cost control is powered by the company's 'GEAR' (Generate idea, evaluate, action and realise the idea) programme.
Tata Motors on Wednesday questioned the modus operandi of West Bengal government in taking possession of the land allocated to it for its small car project Nano in Singur saying all important decisions in this regard were being taken at "night" or "midnight".
Though the workers have not gone on strike, they moved the labour department for not receiving any wage hike since 2015.
Backed by strong demand for Indian vehicles from markets such as South Africa, Tata Motors has exported more than 50,000 vehicles during 2005-06 showing a growth of over 65 per cent over the previous year.
Cars like the Land Rover Evoque, endorsed by Victoria Beckham, have more women customers than men.
While the Tatas had a lease over 645 acres of land, the rest was for ancillary industries and other purposes.
The company took five years to sell the 250,000 units of the Nano.
From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers. In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.
The company had sold 73,491 units in the same month last year, Tata Motors said in a statement.
Thanks to the turnaround in JLR's performance, the stock has been the best performer in the large cap auto segment.
Losing market share and market position, Tata Motors is desperately looking at alternatives, especially from its current stable of cars to stem the tide. And it has a whole bunch of variants lined up over the next year or two.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
The company is evaluating 'possible areas' of cooperation with Jaguar Land Rover, with the engineering teams at the UK plant as well as at the India centre working in synchronisation.
Tata Motors plans to showcase over 20 passenger and commercial vehicles at the upcoming Delhi Auto Expo.
State Bank of India (SBI) has put on the backburner its plan to acquire a stake in Tata Motors Finance, following the Reserve Bank of India's (RBI's) objection.
The issue comprising 'A' ordinary shares aggregating $550 million and ordinary shares aggregating $200 million has been subscribed 3.4 times, Tata Motors said in a filing to the Bombay Stock Exchange.
Tata Motors, however, did not elaborate on the various programmes that have been initiated with JLR and other subsidiaries.
'The path beyond diesel is not going to be clear. It is really going to be dependent on applications.'
The company is planning the despite facing continued pressure on sales.
The Mumbai headquartered company also overtook Japanese carmaker Honda to occupy the fourth spot in domestic passenger vehicle market.
Retail rates of the fuel will now reflect international movement in oil prices.
Auto major Tata Motors on Monday said it appointed Carl-Peter Forster as the new group chief executive of the company.
Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India. Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37.
Tata Motors has identified over a dozen overseas markets to sell commercial vehicles by either setting up manufacturing units, assembly lines or tying up with dealers in those countries, a top company official said.
In the commercial vehicles segment, the company's sales declined by 45.83 per cent to 25,738 units in the domestic market during the month compared to 47,515 units in the corresponding month previous year.
The company has refurbished as many as eight models, but it desperately needs to up the ante in the compact SUV and compact sedan segments.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
On another occasion, he recalled, as part of the SPG, he was tasked with the security of the then prime minister Manmohan Singh and assigned the responsibility of escorting Tata from Taj Mansingh Hotel in New Delhi.
Tata Motors on Tuesday said it is looking to offload stake in its finance arm, Tata Motors Finance Ltd, amid report that the country's largest lender SBI may be buying into it.
Ratan Tata-led Tata Motors on Thursday said that it plans to expand its commercial vehicles business in India and would launch a few more models by this year-end.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
The Sway, which is the likely name for the Zica sedan has been codenamed as Kite 5.
Indian automobile majors Tata Motors and Mahindra & Mahindra (M&M) have shown interest in taking over the Termini Imerese plant owned by Italy's largest car maker Fiat. Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011.
From the 30 Sensex pack, State Bank of India jumped 5 per cent, followed by ICICI Bank, Bajaj Finserv, NTPC, Adani Ports, Bajaj Finance and Larsen & Toubro. In contrast, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Mahindra & Mahindra were among the laggards.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
Though strikingly similar to the Tiago, the Tata Tigor takes the design quotient a notch higher, says P Tharyan.
Sales of commercial vehicles declined 23.8 per cent in July to 31,150 units from 40,882 units a year ago.
The company is also working on various other measures such as enhancing quality of manufacturing facilities and improving customer buying and after sales experience.
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