Tata Motors falls 9% in three-days as JLR cuts prices in China
Posted on 30th July 2014 |
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Tata Motors is trading lower by 2.3% at Rs 443, extending its past two-days fall, on reports that Jaguar Land Rover (JLR) has reduced its prices on three of its high end models in response to an pricing and anti-monopoly investigation in China. The stock has declined nearly 9% in past three trading sessions from Rs 486 on July 24 on National Stock Exchange, compared to 1.1% decline in benchmark CNX Nifty. |
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Sensex up 100 points; HDFC Bank up 1%
Posted on 21st July 2014 |
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The benchmark indices have erased some of its early gains with IT major Infosys and Tata Motors contributing nearly 36 points to the decline. The barometer index, Sensex is up 123 points at 25,765 and Nifty is up 34 points at 7,698 levels. |
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Ford leads India recall list
Posted on 14th July 2014 |
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Ever since the Society of Indian Automobile Manufacturers (SIAM) announced a voluntary recall policy in 2012, carmakers have resolved defects in more than half a million vehicles. |
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Tata Motors resumes Nano car production trials
Posted on 12th July 2014 |
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After close to a month long closure, Tata Motors has resumed production trials of the Nano car at its Sanand facility. Post maintenance, the production trials are believed to be for a new Nano variant. The company had closed the facility citing maintenance and re-tooling for new variants last month. |
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Buy rating to Tata Motors shares: Deutsche Bank
Posted on 7th July 2014 |
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Tata Motors' domestic medium and heavy commercial vehicle (MHCV) volumes in June-14 at 9,620 units (-13.6% y-o-y) remained weak after declining by 23% in FY14. Our channel checks reflect some moderation in discounting, however, it continues to be at significantly high levels (10%+ on the headline ASP—average selling price—for key models) reflecting persistence of weak demand environment. We expect MHCV industry demand to revive over FY15-17 (18% p.a.).Tata Motors' domestic medium and heavy commercial vehicle (MHCV) volumes in June-14 at 9,620 units (-13.6% y-o-y) remained weak after declining by 23% in FY14. Our channel checks reflect some moderation in discounting, however, it continues to be at significantly high levels (10%+ on the headline ASP—average selling price—for key models) reflecting persistence of weak demand environment. We expect MHCV industry demand to revive over FY15-17 (18% p.a.). |
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Indices open at lifetime high; Nifty nears 7,800 mark
Posted on 7th July 2014 |
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Markets have started the trading session on a firm note with the Indices hitting lifetime high. The first Budget session of the 16th Lok Sabha begins today. Indices continue to scale fresh highs on account of strong foreign inflows and budget optimism. |
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Shareholders reject Tata Motors pay hike
Posted on 4th July 2014 |
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In a rare case of investor activism on managerial remuneration, shareholders of Tata Motors, India's biggest automotive maker, rejected compensation payment in excess of prescribed limits to three directors. The company did not get the required 75 per cent votes in a postal ballot to compensate Executive Director (commercial vehicles) Ravindra Pisharody, Executive Director (quality) Satish Borwankar and the legal heir of former managing director Karl Slym (who died in January) in excess of the limits for the year ended March. |
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Sales of medium, heavy-duty trucks pick up pace in June
Posted on 3rd July 2014 |
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Mumbai: After declining for 33 consecutive months, sales of medium and heavy-duty trucks picked up in June, as an improvement in the mining sector and a pick-up in manufacturing led to some revival in demand for commercial vehicles. With the exception of Tata Motors Ltd, the market leader in the commercial vehicles, sales at most firms, including Ashok Leyland Ltd, Eicher Motors Ltd, Volvo Eicher Commercial Vehicles Ltd and Mahindra Trucks and Buses Ltd, saw a spike. |
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Ratan Tata to dwell on Nano, marital status in memoirs
Posted on 2nd July 2014 |
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Ratan Tata, who steered the country's biggest industrial group for two decades, said he would discuss everything, from mergers to his private life, in memoirs to be published in a Japanese newspaper. The 76-year-old industrialist, in comments carried on Tuesday in Japanese in the Nikkei newspaper, said stepping down in December 2012 as chairman of the Tata Group, had given him a chance to reflect. |
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Car sales shift gears
Posted on 2nd July 2014 |
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In a revival sign for the country’s troubled automobile industry, nine leading carmakers’ combined sales in June was 18 per cent higher than those in the same month last year. A new and stable government at the Centre seemed to have bolstered consumer sentiment, as buyers returned to showrooms — the nine passenger vehicle manufacturers that released their numbers on Tuesday sold a combined 204,287 units in the month, compared with 173,624 in June 2013. |
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