MUMBAI: Tata Motors on Friday reported a 57% decline in consolidated net profit at Rs 2,260.40 crore for the first quarter ended June 30, due to post Brexit adverse foreign exchange impacting its British arm JLR.

The city-based company had posted a consolidated profit of Rs 5,254.23 crore in the same period last fiscal, Tata Motors said in a BSE filing.

Tata Motors has carried out raids in 19 locations across the country in recent months to help curb counterfeit products, as part of its campaign against spurious spare parts that started in 2012-13.

The raids were conducted on 19 spurious Tata parts manufacturers and duplicate packaging suppliers across the country, the company said on Friday.

Tata Motors shares were trading higher in the afternoon trade on Wednesday after the company informed bourses that rating agency Standard & Poor’s (S&P) upgraded the long-term corporate rating of Tata Motors to ‘BB+’ from ‘BB’ earlier with stable outlook. At 2.42 am, shares of the auto major were trading 0.42 per cent up at Rs 509.05. The scrip opened the day at Rs 511.90 and has touched a high and low of Rs 514.35 and Rs 506.40, respectively, in trade so far.

Tata Motors chairman Cyrus Mistry on Tuesday told the company’s shareholders’ that they should not be disappointed with the low dividend the company is paying them for FY16, but should see the development that operationally things are improving for the company. Mistry was addressing the company’s 71st annual general meeting.

Tata Motors shares rallied over 3 per cent on Friday after its subsidiary – Jaguar Land Rover (JLR) posted its best ever July retails sales by registering a 34 per cent year-on-year jump at 44,486 units. JLR said that strong sales of the Land Rover Discovery Sport, the Jaguar XE and the F-PACE contributed to the impressive sales number. The company’s China retail sales were up 64%, whereas North America sales rose 51% YoY. Europe and UK retail sales grew 24% and 38% year-on-year, respectively.

German carmaker Volkswagen is in talks with Tata Motors to partner for a small car development programme, a German business magazine Manager Magazin has reported.

While the talks are in the initial stages, Tata Motors might partially or fully develop a low-cost small car to be later sold under the Volkswagen brand in emerging markets such as India, stated the report.

Bengaluru: On the shop floor of most car manufacturers, amid the men, robots and cars, you may find a handful of women if you look hard enough. And if it is an early morning shift or a late night shift, one need not even make that effort. India’s largest auto maker Tata Motors Ltd wants to change that.

Out of the 60,000 workforce that Tata Motors has, only about 3% of its shop floor workers are women, said Gajendra Chandel, the company’s chief human resource officer.

India's biggest automaker Tata Motors will seek shareholder's approval at the upcoming annual general meeting to raise Rs 3,000 crore through non-convertible debentures (NCD) this year.

The fund raising move is complementing to the company's previous decision to raise Rs 4,400 crore through NCD for which is secured approval from the shareholders at the last AGM.

India’s largest automobile company, Tata Motors, has set its eyes on being among the top three global commercial vehicle makers and reclaiming its number three spot in the country’s car and sports utility vehicle market.

Addressing shareholders while presenting the company’s 71st annual report, Chairman Cyrus Mistry said the current year would be crucial, entailing new launches.

Tata Motors was trading higher by 3.5% at Rs 474 on the BSE after the company said that its total passenger and commercial vehicle sales rose 8% to 44,276 vehicles in June 2016. The company sold 40,869 vehicles in June 2015.

“Cumulative sales (including exports) of the company for the fiscal were at 123,729 numbers, higher by 6% over 116,504 vehicles, sold last year,” Tata Motors said in a release.

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