Ford India to sell its Gujarat plant for Rs 725.7 cr to Tatas
In a regulatory filing on Sunday, Tata Motors - the parent of Tata Passenger Electric - said the Ford India's plant in Sanand in Gujarat includes (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated and (iii) transfer of all eligible employees of Ford India's vehicle manufacturing operations. The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric.
Tata Motors to increase CV prices from July 1
The percentage of hike will depend upon the individual model and variant. "While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," the company said.
Tata Motors to acquire Sanand plant, signs MoU with Ford, Gujarat govt
The MoU included land and buildings; vehicle manufacturing plant; machinery and equipment; and besides transfer of all eligible employees of Ford India's Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, the automaker said in a regulatory filing.
Tata Consumer Products plans to reorganise India, overseas business
The plan includes the demerger of plantation business of Tata Coffee (TCL) into TCPL Beverages & Foods (TBFL), and the merger of the remaining business of TCL, consisting of its extraction and branded coffee business with the TCPL, through a composite scheme of arrangement. Besides, TCPL proposes to purchase the minority interest in its UK subsidiary, Tata Consumer Products UK (TCP UK) by way of a share swap, through a preferential issue of its equity shares.
Tata Motors reports Q3FY22 net losses at Rs 1,451 cr
In the same quarter last fiscal, the net profits were at Rs 2,941 crore, the company said in its earnings report. "India operations showed significant revenue improvement as compared to Q3 a year ago, however, commodity inflation impacted the margins," it said in the filing. The passenger vehicles segment continued its turnaround journey and strengthened its double-digit market share with highest sales in any calendar year since inception.
L&T, Axis Bank, Tata Motors among 'top picks' ahead of Budget: ICICI Direct
It picked the engineering and construction entity as its top pick on the back of the company's strong order book and good revenue outlook. Larsen & Toubro (L&T) deals in EPC (engineering, procurement and construction) projects, hi-tech manufacturing and services. It primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, and services business segments.
Witnessing gradual recovery in CV segment demand says Tata Motors
In a conversation with IANS, Girish Wagh, Executive Director, Tata Motors, cited a gradual recovery in demand post the second wave. Accordingly, the recovery was triggered on the back of increase in economic activity, which along with a robust rural economy has driven the sales of CVs.
Tata Motors to raise passenger vehicle prices
According to the company, there will be an average increase of 0.9 per cent, depending on the variant and model. "At the same time, the company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers. "While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike."
EV push, rising sales support Tata Motors' shares in 2021; outlook positive
The automaker's shares rose 160 per cent in the past one year period. On Monday, it settled at Rs 496.8 apiece. Notably, automobile manufacturer Tata Motors' passenger vehicles vertical sold more units than Hyundai Motor India in December, and became the second largest seller after Maruti Muzuki during the month. Tata Motors' total domestic passenger vehicle sales rose by 50 per cent to 35,299 units from 23,545 units off-take in December 2020.
Tata Motors' PV sales overtake Hyundai in December
Besides, PVs, Tata Motors has a major presence in the commercial vehicle segment. Tata Motors' total domestic passenger vehicle sales rose by 50 per cent to 35,299 units from 23,545 unit off-take in December 2020. "Tata Motors PV business growth journey continued and set several new milestones during the quarter despite witnessing a shortfall in production due to the ongoing semiconductor crisis," said Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors.